OKX, Standard Chartered Expand Crypto Partnership to Europe to Target Institutions
Cryptocurrency exchange OKX and banking group Standard Chartered are expanding their partnership to the European Economic Area (EEA), the companies announced.
The expansion brings a “collateral mirroring programme,” first launched by the pair in the UAE, to European institutional clients. The service allows clients to hold their digital assets with Standard Chartered while a mirrored balance is made available on the OKX exchange for trading.
According to the announcement, the program is intended to reduce counterparty risk and strengthen asset security for institutions.
The move into the EEA is supported by OKX’s Markets in Crypto-Assets (MiCA) license, which provides a regulatory framework for its European operations.
Margaret Harwood-Jones, Global Head of Financing and Securities Services at Standard Chartered, stated the goal is to leverage the bank’s “established custody infrastructure alongside [OKX’s] regulatory framework to ensure the highest standards of security and compliance for institutional clients in Europe.”
Erald Ghoos, CEO for OKX Europe, said that the combination of its MiCA license and the custody partnership represents the company’s “long-term commitment to Europe.” He added that pairing regulation with such solutions helps clients “trade more efficiently in a safeguarded environment.”
This article is published on BitPinas: OKX, Standard Chartered Expand Crypto Partnership to Europe to Target Institutions
What else is happening in Crypto Philippines and beyond?
