Standard Chartered & OKX Pilot Crypto Collateral Program for Institutions

Standard Chartered and cryptocurrency exchange OKX are launching a pilot program allowing institutions to utilize crypto assets and tokenized money market funds (MMFs) as collateral. This novel approach, announced on April 10th, enables off-exchange collateral usage while bolstering security through custody with Standard Chartered, a globally systemically important bank operating in the Dubai International Financial Centre (DIFC). Regulatory oversight by the Dubai Virtual Asset Regulatory Authority has been secured for this pilot program.