OKX, an innovative cryptocurrency exchange, has announced its groundbreaking partnership with Standard Chartered to reinvent the future of institutional digital asset trading. This collaboration aims to direct the world’s first collateral pilot for institutional investors. This initiative is backed by financial giants such as Franklin Templeton and Brevan Howard Digital. It strives to enable institutions to leverage cryptocurrencies along with tokenized assets like money market funds. These tokenized assets and cryptocurrencies act as trading collateral utilizing a secure and capital-efficient environment.Â
OKX Sets New Standards in Institutional Crypto Trading
OKX and Standard Chartered possess a shared commitment to improving client protection along with operational efficiency. Standard chartered act as an independent and regulated custodian, oversight by the Dubai Financial Services Authority (DFSA). With this development, the institutional participants got the opportunity to utilize off-exchange collateral.
This deployment is issued by joining hands with a globally recognized and trusted banking partner. This pilot program was unveiled in the framework of the Dubai Virtual Asset Regulatory Authority (VARA). This advancement lowers the counterparty risk efficiently. The counterparty risk is the ever-emerging issue in today’s digital asset ecosystems.
The first money market fund is offered by Franklin Templeton leveraging the initiative of OKX-Standard Chartered. This initiative aims to integrate tokenized assets into the financial ecosystem of institutional clients. These institutional clients get the opportunity to access on-chain assets which are designed by the Digital Assets Team of Franklin Templeton. In this way, the clients aim to empower interaction with the evolving digital economy effortlessly.
OKX and Standard Chartered to Reshape Digital Asset Custody and Trading
OKX as the world’s first and leading cryptocurrency exchange, aims to introduce its robust infrastructure of trading. It further allows institutional users to leverage enhanced security and scalability. This collaboration utilizes Standard Chartered’s stance as a Globally Systemically Important Bank (G-SIB). Through this advanced step, the partnership is set to bring trust and transparency to new heights.
Brevan Howard Digital is a crypto-based division of the popular investment firm Brevan Howard. This division has joined the program at its first which signals the strong position of the model. The partnership between OKX and Standard Chartered paves the way for a regulated future of institutional participation. This advanced move cements the position of OKX and Standard Chartered as financial innovators.
