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OKX, a cryptocurrency change and onchain know-how
firm, introduced in the present day that it has chosen Commonplace Chartered as a
third-party crypto custodian for its world institutional enterprise. Commonplace
Chartered gives cross-border monetary companies connecting varied markets
worldwide.
Commonplace Chartered Joins OKX Custody
The settlement provides to OKX’s companies for institutional
shoppers, which embrace superior buying and selling instruments, danger administration sources, and
safe custody choices. OKX plans to leverage Commonplace Chartered’s world
banking expertise and danger administration practices to broaden its
custody choices for institutional traders.
“We’re dedicated to providing custodial companies that
meet the very best requirements of security and compliance,” Commonplace 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
traders with the reassurance they require.”
⚡️ BREAKING: #OKX has partnered with Commonplace Chartered as a third-party custodian to strengthen its companies 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 traders within the United Arab Emirates
after acquiring a full working license from the UAE’s Digital Belongings
Regulatory Authority, as reported by Finance
Magnates.
Examine Highlights Institutional Demand
This partnership goals to reinforce institutional involvement
in digital belongings. It additionally aligns with findings in an OKX-commissioned report
by Economist Impression, titled “Digital Belongings because the New Various 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 participating in digital belongings
use third-party custodians, underscoring a requirement for separate commerce execution
and asset custody.
OKX World Chief Industrial Officer Lennix Lai mentioned: “Commonplace
Chartered’s in depth world banking experience and unwavering dedication to
safety aligns with our goal to supply distinctive crypto companies and
reinforces the arrogance of our institutional shoppers in managing their
digital belongings.”
This text was written by Tareq Sikder at www.financemagnates.com.
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