OKX and Standard Chartered have expanded their custody solution to Europe, allowing institutions to trade on OKX while a major bank secures their assets. This partnership aims to offer bank-grade custody to institutional traders making large crypto trades, minimizing risk and increasing trust in the industry.

Standard Chartered’s custody solution enables institutions to trade crypto without direct deposits to an exchange, with assets secured by the bank’s service. OKX provides liquidity, mirroring crypto deposits on its platforms. This setup appeals to users wary of platform risk, especially after recent industry insolvencies and hacks.

Institutions are more comfortable making large crypto deposits when held in custody at a major bank, according to OKX’s EU CEO. The new product mitigates risks and addresses concerns about platform security, following the collapse of FTX. The collaboration helps restore trust in the industry and supports institutional trading confidence.

Read more at Yahoo Finance: OKX and Standard Chartered Bring Collateral Mirroring to Europe