Standard Chartered, OKX Offer Crypto Custody in EEA
Standard Chartered Bank has expanded its partnership with crypto exchange OKX to offer direct, bank-grade crypto custody services for institutional clients across the European Economic Area (EEA). Building on an April pilot in Dubai, clients can hold digital assets under Standard Chartered’s regulated custody framework while trading via mirrored balances on OKX. The crypto custody service leverages existing infrastructure and aligns with MiCA regulations after OKX received its MiCA license in Malta. This reduces counterparty risk and enhances asset security. Aiming to restore market confidence after October’s volatility and $20 billion in liquidations, this first G-SIB collaboration with a major crypto exchange in Europe reflects growing institutional trust. It signals a shift towards more regulated and transparent crypto-custodial solutions.
Bullish
This partnership strengthens institutional confidence in regulated crypto custody, reduces counterparty risk, and enhances asset security. In the short term, it may increase trading activity on OKX and broader market sentiment by offering a secure custody option, potentially driving demand for major digital assets. Over the long term, the collaboration signals maturation of European digital asset markets and may attract more institutional capital, supporting sustained market growth and liquidity. As a result, the news is generally bullish for the crypto market, particularly for platforms and assets benefiting from enhanced regulatory compliance and security measures.