OKX Partners with Standard Chartered for Secure Crypto Custody Solutions

• OKX partners with Standard Chartered to provide secure institutional crypto custody, enhancing trust and compliance for large investors.
• OKX delists trading pairs and introduces PayPal USD (PYUSD) for improved liquidity and seamless digital asset transfers.

OKX officially announced a partnership with Standard Chartered Bank, establishing the bank as the third-party custodian for OKX’s institutional clients. This partnership seeks to improve digital asset management security and compliance for big institutional investors.

Renowned for its vast worldwide banking knowledge, Standard Chartered will offer custody services separating trading from asset custody, therefore meeting a major need among institutional players in the crypto market.

OKX: Strategy to Secure Institutional Confidence with Custodial Solutions

OKX underlined that this partnership fits its more general goal of incorporating digital assets into the conventional banking system. OKX wants to draw more institutional investors who seek security in handling their digital assets by providing customers with a more safe and regulated environment.

For the crypto exchange, this move comes at a pivotal point since institutional sector need for strong custodial solutions rises.

Underscoring the need for a clear separation between asset custody and trade execution, research commissioned by OKX revealed that around 80% of hedge funds interacting with digital assets depend on outside custodians.

Lennix Lai, Global Chief Commercial Officer of OKX, underlined that Standard Chartered is a perfect partner for OKX because of its dedication to safety and compliance, especially as the business keeps extending its institutional offerings.

The participation of Standard Chartered in the crypto sector has been increasing gradually. Apart from looking after OKX, the bank has lately started comparable services in the United Arab Emirates, where it offers safe storage for Bitcoin and Ethereum.

This move confirms even further its dedication to provide first-rate digital asset services. From its side, OKX sees this partnership as only one of several actions it is taking to close the distance between conventional banking and the crypto industry.

Beside that, to keep a steady and effective trading environment, OKX has also delisted other trading pairs, including BLOCK/USDT and UTK/USDT, as we previously reported. Emphasizing its focus on high liquidity and high-demand trading pairs, the platform has pushed users to pull impacted assets before the deadline.

For spot trading, according to CNF, OKX has also added PayPal USD (PYUSD), therefore broadening its product range across the Ethereum and Solana networks. With this action, users should have a safe, cheap stablecoin backed by the US dollar, enhancing liquidity and accessibility.