In a significant move to bolster institutional confidence in digital assets, Standard Chartered’s custody arm, Zodia Custody, has entered into a strategic partnership with cryptocurrency exchange OKX. This collaboration will provide secure custody solutions for OKX’s institutional clients across Europe, addressing critical concerns about asset security in the volatile digital currency space.
The announcement comes as the cryptocurrency sector continues to face scrutiny following recent market fluctuations. Erald Ghoos, Head of OKX Europe, emphasized that this partnership represents a crucial step toward legitimizing digital asset management through established financial infrastructure. “By integrating traditional banking security standards with digital asset custody, we’re demonstrating the maturation of cryptocurrency markets,” Ghoos stated.
Zodia Custody, regulated by both the UK’s Financial Conduct Authority and Ireland’s Central Bank, will leverage Standard Chartered’s extensive experience in financial security and compliance. The service will enable institutional investors to securely store major cryptocurrencies while maintaining regulatory compliance across European jurisdictions.
This partnership marks one of the first major collaborations between a leading global bank and a cryptocurrency exchange specifically targeting the European institutional market. The initiative reflects growing recognition among traditional financial institutions of the need to provide secure, regulated solutions for digital asset management as institutional adoption accelerates.
