OKX Chooses Normal Chartered as Custodian for Institutional Crypto Companies

OKX, a cryptocurrency alternate and onchain expertise
firm, introduced at present that it has chosen Normal Chartered as a
third-party crypto custodian for its international institutional enterprise. Normal
Chartered gives cross-border monetary companies connecting varied markets
worldwide.

Normal Chartered Joins OKX Custody

The settlement provides to OKX’s companies for institutional
purchasers, which embody superior buying and selling instruments, danger administration assets, and
safe custody choices. OKX plans to leverage Normal Chartered’s international
banking expertise and risk management practices to develop its
custody choices for institutional traders.

“We’re dedicated to providing custodial companies that
meet the best requirements of security and compliance,” Normal Chartered World
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
traders with the peace of mind they require.”

⚡️ BREAKING: #OKX has partnered with Normal 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 trading
platform for retail and institutional investors in the United Arab Emirates
after acquiring a full working license from the UAE’s Digital Belongings
Regulatory Authority, as reported by Finance
Magnates.

Research Highlights Institutional Demand

This partnership goals to boost institutional involvement
in digital belongings. It additionally aligns with findings in an OKX-commissioned report
by Economist Impression, titled “Digital Belongings because the New Different for
Institutional Traders: Market Dynamics, Alternatives and Challenges.”

The report highlights the rising attraction of digital belongings
for establishments and notes that 80% of hedge funds partaking in digital belongings
use third-party custodians, underscoring a requirement for separate commerce execution
and asset custody.

OKX World Chief Industrial Officer Lennix Lai stated: “Normal
Chartered’s in depth international banking experience and unwavering dedication to
safety aligns with our goal to offer distinctive crypto companies and
reinforces the boldness of our institutional purchasers in managing their
digital belongings.”

This text was written by Tareq Sikder at www.financemagnates.com.

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