Standard Chartered, one of the world’s leading banks, has announced a surprising partnership with a cryptocurrency exchange, marking a significant development in the financial industry. The bank has joined forces with OKX, a prominent exchange, to act as a third-party custodian for institutional clients.
In an official statement, OKX emphasized the importance of collaborating with a reputable institution like Standard Chartered. The bank, known for its significant role in international banking and its status as one of Hong Kong’s major bond issuing banks, offers the level of confidence that institutional investors seek.
The stock exchange highlighted the need for assurance among institutional investors and expressed confidence in providing that through their partnership with Standard Chartered. They believe that working with such a respected bank will instill confidence in their clients.
OKX described this collaboration as a “new milestone in institutional crypto custody,” emphasizing the growing importance of secure and scalable solutions for institutional clients. As the cryptocurrency market matures, digital assets are no longer seen as speculative investments but are now recognized as crucial components of diversified portfolios.
OKX referred to a report by Economist Impact, which revealed that 80% of traditional and crypto hedge funds utilizing digital assets rely on third-party custodians. This statistic further underscores the significance of partnerships like the one between Standard Chartered and OKX.
It is important to note that this article does not provide investment advice. However, for those interested in investing in over 300 cryptocurrencies, registering with Binance exchange through this link offers a 20% commission discount.
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