Standard Chartered and OKX create collateral programme
11 April 2025 Dubai
Image: Loui Photo/stock.adobe.com
Standard Chartered and OKX have launched a collateral mirroring programme.
The companies say that the new programme will allow institutions to utilise cryptocurrencies and tokenised money market funds as off-exchange collateral for trading.
The initiative also aims to enhance security and capital efficiency through the use of a globally systemically important bank (G-SIB) as the collateral custodian.
The programme has been launched within the Dubai virtual asset regulatory authority鈥檚 (VARA) framework as a pilot, where Standard Chartered will act as the independent, regulated custodian.
Hong Fang, president of OKX, notes: 鈥淏y leveraging Standard Chartered's position as a top custodian globally, as well as OKX's market leadership in cryptocurrency trading, the partnership sets an industry standard for current and potential institutional clients to deploy trading capital at scale in a trusted environment.鈥�
Margaret Harwood-Jones, global head of financing and securities services at Standard Chartered, adds: 鈥淥ur collaboration with OKX to enable the use of cryptocurrencies and tokenised money market funds as collateral represents a significant step forward in providing institutional clients with the confidence and efficiency they need.鈥�
The companies say that the new programme will allow institutions to utilise cryptocurrencies and tokenised money market funds as off-exchange collateral for trading.
The initiative also aims to enhance security and capital efficiency through the use of a globally systemically important bank (G-SIB) as the collateral custodian.
The programme has been launched within the Dubai virtual asset regulatory authority鈥檚 (VARA) framework as a pilot, where Standard Chartered will act as the independent, regulated custodian.
Hong Fang, president of OKX, notes: 鈥淏y leveraging Standard Chartered's position as a top custodian globally, as well as OKX's market leadership in cryptocurrency trading, the partnership sets an industry standard for current and potential institutional clients to deploy trading capital at scale in a trusted environment.鈥�
Margaret Harwood-Jones, global head of financing and securities services at Standard Chartered, adds: 鈥淥ur collaboration with OKX to enable the use of cryptocurrencies and tokenised money market funds as collateral represents a significant step forward in providing institutional clients with the confidence and efficiency they need.鈥�
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