OKX picks Commonplace Chartered as its institutional crypto custodian

• OKX broadcasts partnership with Commonplace Chartered to supply crypto custody providers to institutional shoppers.
• Commonplace Chartered has a powerful presence within the crypto trade.
• A buying and selling desk and custody answer are amongst its high options.

OKX has partnered with Commonplace Chartered in a collaboration that may see the banking large grow to be the crypto alternate’s official third-party crypto custodian.

Particularly, Commonplace Chartered is now the crypto custodian for OKX’s institutional shoppers.

We’re difficult the established order and constructing for the longer term.

To reinforce our providing, we’ve partnered with @StanChart as our third-party custodian for institutional shoppers.

Extra on our dedication to safety and innovation in crypto: https://t.co/jFrF5lCnsq pic.twitter.com/FNiAD3U2KW

— OKX (@okx) October 29, 2024

OKX eyes additional institutional adoption of crypto

In accordance with OKX chief industrial officer Lennix Lai, the partnership is a part of the crypto alternate’s continued evolution into one of many world’s high crypto firms. Commonplace Chartered will assist the alternate supply its institutional prospects a platform to securely enter the rising digital property market.

The partnership permits shoppers the choice of separating their buying and selling from custody, Lai added.

“Our institutional providers already embody superior buying and selling options, strong danger administration instruments, and custody options. Including Commonplace Chartered to our custody choices permits us to combine digital property extra seamlessly into the standard monetary ecosystem, making it simpler for institutional gamers to have interaction confidently on this house.”

Collaboration with OKX provides to Commonplace Chartered’s rising footprint within the crypto house. Its latest growth consists of the launch of a digital asset custody answer within the United Arab Emirates. The financial institution’s crypto custody service permits institutional shoppers to custody Bitcoin (BTC) and Ethereum (ETH), with extra property to be added.

Notably, Commonplace Chartered additionally provides a spot crypto buying and selling desk, and has a footprint within the Ethereum exchange-traded fund market.