OKX, a cryptocurrency trade and onchain know-how
firm, introduced right this moment that it has chosen Customary Chartered as a
third-party crypto custodian for its international institutional enterprise. Customary
Chartered supplies cross-border monetary companies connecting varied markets
worldwide.
Customary Chartered Joins OKX Custody
The settlement provides to OKX’s companies for institutional
purchasers, which embody superior buying and selling instruments, threat administration assets, and
safe custody choices. OKX plans to leverage Customary Chartered’s international
banking expertise and threat administration practices to develop its
custody choices for institutional buyers.
“We’re dedicated to providing custodial companies that
meet the best requirements of security and compliance,” Customary Chartered International
Head of Financing & Securities Companies Margaret Harwood-Jones stated.
“Serving as OKX’s third-party custodian permits us to increase
our experience into the evolving cryptocurrency sector, offering institutional
buyers with the peace of mind they require.”
⚡️ BREAKING: #OKX has partnered with Customary Chartered as a third-party custodian to strengthen its companies for institutional purchasers.#StandardChartered #Blockchain #CryptoNews pic.twitter.com/iBUTf6CckV
— Coin Version: Your Crypto Information Edge ️ (@CoinEdition) October 29, 2024
In the meantime, OKX has launched its buying and selling
platform for retail and institutional buyers within the United Arab Emirates
after acquiring a full working license from the UAE’s Digital Property
Regulatory Authority, as reported by Finance
Magnates.
Examine Highlights Institutional Demand
This partnership goals to reinforce institutional involvement
in digital property. It additionally aligns with findings in an OKX-commissioned report
by Economist Affect, titled “Digital Property because the New Different for
Institutional Traders: Market Dynamics, Alternatives and Challenges.”
The report highlights the rising attraction of digital property
for establishments and notes that 80% of hedge funds participating in digital property
use third-party custodians, underscoring a requirement for separate commerce execution
and asset custody.
OKX International Chief Business Officer Lennix Lai stated: “Customary
Chartered’s in depth international banking experience and unwavering dedication to
safety aligns with our goal to supply distinctive crypto companies and
reinforces the boldness of our institutional purchasers in managing their
digital property.”
This text was written by Tareq Sikder at www.financemagnates.com.
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