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Crypto exchange OKX is deepening its alliance with Standard Chartered, bringing their institutional custody model to the European Economic Area.
The setup lets investors trade directly on OKX while their assets remain safely held by the global bank – a structure long used in traditional finance but still rare in crypto.
The arrangement, first introduced in the UAE, mirrors client balances on OKX without moving funds from Standard Chartered’s custody, reducing exposure to exchange-related risks. This approach has become increasingly attractive since the FTX collapse, which left billions in limbo and shook confidence in centralized platforms.
OKX Europe chief Erald Ghoos said the initiative blends “bank-level security” with the flexibility of a regulated crypto exchange, made possible by OKX’s MiCA authorization. Meanwhile, Standard Chartered’s Margaret Harwood-Jones highlighted that combining the bank’s custody infrastructure with OKX’s compliance framework offers institutions a safer gateway into digital assets.
The move also signals a broader shift – established banks are cautiously entering crypto partnerships, bridging trust gaps and regulatory uncertainty. Standard Chartered remains the only Global Systemically Important Bank working this closely with a crypto exchange, underscoring growing institutional confidence in such dual-custody models.
OKX’s earlier collaboration with Komainu laid the groundwork for this approach, now echoed by competitors like Deribit, Binance, and Bitget, all racing to meet demand for off-exchange asset protection.