OKX, a cryptocurrency change and onchain know-how
firm, introduced immediately that it has chosen Normal Chartered as a
third-party crypto custodian for its world institutional enterprise. Normal
Chartered offers cross-border monetary providers connecting numerous markets
worldwide.
Normal Chartered Joins OKX Custody
The settlement provides to OKX’s providers for institutional
shoppers, which embody superior buying and selling instruments, threat administration assets, and
safe custody choices. OKX plans to leverage Normal Chartered’s world
banking expertise and threat administration practices to broaden its
custody choices for institutional buyers.
“We’re dedicated to providing custodial providers that
meet the very best requirements of security and compliance,” Normal Chartered World
Head of Financing & Securities Companies Margaret Harwood-Jones mentioned.
“Serving as OKX’s third-party custodian permits us to increase
our experience into the evolving cryptocurrency sector, offering institutional
buyers with the reassurance they require.”
⚡️ BREAKING: #OKX has partnered with Normal Chartered as a third-party custodian to strengthen its providers for institutional shoppers.#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.
Research 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 Impression, titled “Digital Property because the New Different for
Institutional Buyers: Market Dynamics, Alternatives and Challenges.”
The report highlights the rising attraction of digital property
for establishments and notes that 80% of hedge funds partaking in digital property
use third-party custodians, underscoring a requirement for separate commerce execution
and asset custody.
OKX World Chief Industrial Officer Lennix Lai mentioned: “Normal
Chartered’s intensive world banking experience and unwavering dedication to
safety aligns with our goal to offer distinctive crypto providers and
reinforces the boldness of our institutional shoppers in managing their
digital property.”
This text was written by Tareq Sikder at www.financemagnates.com.
