In a significant move, Standard Chartered Bank has deepened its collaboration with OKX, signaling a shift towards comprehensive digital asset management in Europe.
Strengthening Ties: Standard Chartered & OKX’s New Ventures in Europe
The partnership, initially launched in April, introduced an innovative collateral mirroring program tailored for institutional clients in the UAE. This pioneering approach allows institutions to safeguard their assets through bank-level custody while simultaneously enabling trading on the OKX platform.
As both entities gear up to bring this service to the European Economic Area (EEA), the benefits for clients are clear. “This collaboration merges cutting-edge financial technology with traditional banking, offering a dual advantage: reliable custody paired with the flexibility of crypto trading,” noted the announcement.
Standard Chartered, a key player in global finance and classified as a Global Systemically Important Bank (G-SIB), has made considerable strides in adapting to the digital economy. Over the past year, it became the first G-SIB to establish a dedicated trading desk for Bitcoin and Ethereum, highlighting its commitment to embracing cryptocurrency.
By partnering with OKX, a leading crypto exchange, Standard Chartered further solidifies its position at the crossroads of traditional finance and digital assets, enhancing assurance for institutional investors.
Currently recognized as the second-largest cryptocurrency exchange globally by trading volume, OKX operates under the regulatory framework of the Markets in Crypto Assets Regulation (MiCA). This regulation aims to provide clear guidelines, thereby bolstering the confidence of institutional clients in digital transactions. “Our goal is to facilitate efficient trading environments that prioritize security and innovation,” the announcement conveyed.
In a parallel development, nine prominent European banking institutions recently announced a coalition to create a euro-based stablecoin compliant with MiCA regulations. These digital currencies are designed to maintain parity with fiat currencies, providing a stable alternative to the USD-dominant crypto landscape.
This consortium features notable participants such as ING and UniCredit, with Citigroup—the first non-European G-SIB—joining the initiative, as reported by Bloomberg. The banks target a potential launch of their euro stablecoin in late 2026.
Current Market Trends: Bitcoin Price Insights
As of now, Bitcoin is trading near $111,600, reflecting a downward trend of over 8% in the past week, indicating the volatility often inherent in cryptocurrency markets.
