OKX Partners with Standard Chartered to Facilitate Institutional Crypto Collateral Mirroring

OKX is joining forces with Standard Chartered to provide institutional clients with a regulated way to use crypto as collateral. The partnership, which launched on April 10th, enables institutions to maintain their collateral with Standard Chartered rather than the exchange itself. This program utilizes ‘mirrored’ collateral in client accounts without transferring custody of funds. 27-May-23 The pilot program complies with Dubai’s Virtual Asset Regulatory Authority (VARA) regulations, and Standard Chartered will serve as a custodian under that framework, supervised by Dubai’s financial regulators.