Standard Chartered, a renowned global bank, has announced a partnership with a surprise cryptocurrency exchange, marking a significant development in the financial industry. The bank has been appointed as a third-party cryptocurrency custodian for institutional clients by OKX, the exchange in question. This collaboration aims to provide institutional investors with the assurance they seek by working with a reputable institution like Standard Chartered.
OKX, in its official statement, emphasizes the importance of secure and scalable solutions for institutional clients in the rapidly maturing cryptocurrency market. Digital assets are no longer considered merely speculative investments but have become essential components of diversified portfolios. In fact, a report by Economist Impact revealed that 80% of traditional and crypto hedge funds utilizing digital assets rely on third-party custodians.
The partnership between Standard Chartered and OKX is a significant milestone in the world of institutional crypto custody. As the cryptocurrency market continues to evolve, the need for trusted custodians becomes increasingly apparent. By collaborating with a respected bank like Standard Chartered, OKX aims to provide institutional investors with the level of assurance they require.
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