OKX Chooses Commonplace Chartered as Custodian for Institutional Crypto Providers

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OKX Chooses Commonplace Chartered as Custodian for Institutional Crypto Providers


OKX, a cryptocurrency change and onchain know-how
firm, introduced as we speak that it has chosen Commonplace Chartered as a
third-party crypto custodian for its world institutional enterprise. Commonplace
Chartered supplies cross-border monetary companies connecting numerous markets
worldwide.

Commonplace Chartered Joins OKX Custody

The settlement provides to OKX’s companies for institutional
shoppers, which embrace superior buying and selling instruments, threat administration sources, and
safe custody choices. OKX plans to leverage Commonplace Chartered’s world
banking expertise and threat administration practices to develop its
custody choices for institutional buyers.

“We’re dedicated to providing custodial companies that
meet the best requirements of security and compliance,” Commonplace Chartered International
Head of Financing & Securities Providers Margaret Harwood-Jones stated.

“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.”

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
.

Examine 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 Property because the New Different for
Institutional Buyers: 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 International Chief Industrial Officer Lennix Lai stated: “Commonplace
Chartered’s in depth world banking experience and unwavering dedication to
safety aligns with our goal to offer distinctive crypto companies and
reinforces the boldness of our institutional shoppers in managing their
digital belongings.”

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

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