Standard Chartered Bank Partners with OKX to Launch Global Leading Asset Staking Mirror Project

Source: OKX

On April 10, 2025, Dubai, United Arab Emirates—Today, Standard Chartered Bank and the leading global cryptocurrency exchange and blockchain technology company OKX jointly announced the launch of a groundbreaking global collateral asset mirroring project. The project allows institutional clients to use digital assets and tokenized fiat market funds as off-exchange trading collateral assets, with custody of the collateral assets entrusted to a global systemically important bank (G-SIB), significantly enhancing the safety and capital efficiency of institutional client funds.

Margaret Harwood-Jones, Global Head of Financing and Securities Services at Standard Chartered Bank, said: "In the face of the ever-changing landscape of digital assets, we recognize the critical importance of a robust, secure custody solution. This collaboration with OKX, supporting users to utilize digital assets and tokenized fiat market funds as collateral assets, signifies a key step forward in boosting confidence and efficiency for our institutional clients. Leveraging Standard Chartered Bank's mature custodial infrastructure, we will ensure the highest standards of security and compliance, thereby enhancing market trust in the digital asset ecosystem."

The collateral mirroring project has launched a pilot under the regulatory framework of the Dubai Virtual Asset Regulatory Authority (VARA). The project significantly reduces the counterparty risk, a key pain point in the current digital asset market, providing users with more effective protection. Standard Chartered Bank, as an independent custodian within the Dubai International Financial Centre (DIFC) regulated by the Dubai Financial Services Authority (DFSA), is responsible for securely storing the collateral assets. OKX, through its VARA-licensed entity, manages the collateral assets and executes transactions. Franklin Dampson will be one of the first money market funds launched in this joint project between OKX and Standard Chartered Bank.

Hong Fang, CEO of OKX, said: "As the digital asset ecosystem gradually merges with the traditional financial system, we are committed to driving industry growth with the highest capital efficiency while safeguarding user asset security. This collaboration combines the strengths of Standard Chartered Bank as a top global custodian and OKX's market-leading position in the cryptocurrency trading sector, setting an industry benchmark for existing and potential institutional clients and creating a trusted environment for their large-scale deployment of trading capital."

Franklin Dampson is a recognized leader in the tokenization and real-world assets (RWA) field, continuously innovating with blockchain technology to provide cutting-edge solutions for its users and clients. Through this collaboration, OKX users will be able to directly utilize on-chain assets developed by the Franklin Digital Assets team and seamlessly integrate them into their own financial and operational systems.

Roger Baysto, Head of Digital Assets at Franklin Dampson, said: "Our platform is built on blockchain technology with the aim of supporting the ongoing dynamic development of the financial ecosystem. Whether it's direct investment in blockchain assets or the development of innovative solutions by our in-house team, we adhere to on-chain operations—on-chain asset minting helps achieve true ownership, ensuring asset transfers and settlements are conducted at blockchain-level speeds, completely free from the constraints of traditional infrastructure."

The global top alternative investment management company Brevan Howard's subsidiary focusing on digital currencies and digital assets, Brevan Howard Digital, is one of the first institutions to join this innovative project, highlighting the importance of such services provided by leading international cross-border banks and top global trading platforms working together.

Ryan Taylor, Group Head of Compliance at Brevan Howard and CEO of Brevan Howard Digital, stated, "This project is the latest example of ongoing industry innovation and institutionalization. As a significant investor in the digital asset space, we are excited to collaborate with industry-leading institutions to drive the growth and development of the global digital currency ecosystem."

Previously in the news, September 2024: Standard Chartered Bank launches digital asset custody services in the UAE; October 2024: OKX appoints Standard Chartered Bank as its institutional third-party custody partner | Standard Chartered Bank.

About OKX

OKX is a leading global cryptocurrency exchange trusted by over 60 million users worldwide, renowned for its fast trading experience and reliable cryptocurrency application.

As a top partner of the English Premier League champion Manchester City Football Club, McLaren Formula One racing, and Olympic athlete Scott James, OKX is committed to providing a new interactive way to bring extraordinary experiences to fans. OKX is also a top partner of the Art Basel festival, actively promoting more creators to enter the Web3 space.

OKX always adheres to the core principles of transparency and security, regularly publishing reserve proof every month. For more information, please download the OKX APP or visit the official website.

Disclaimer

About Brevan Howard Digital

Brevan Howard Digital (referred to as BH Digital) is the digital currency and digital asset division of the Brevan Howard Group, dedicated to helping institutional investors seize the diverse investment opportunities brought by blockchain technology's structural transformation and innovation. BH Digital adopts a multi-manager, multi-strategy investment approach, providing investors in both public and private markets with a free allocation, pursuit of excess returns, and diversified layout of the digital asset full ecosystem investment opportunities. Currently, BH Digital, consisting of over 60 individuals, operates in 8 global offices, managing over $20 billion in assets. For more information, please visit the official website.

About Standard Chartered Bank

Standard Chartered is a leading international banking group with a presence in 53 of the world's most dynamic markets. Our aim is to drive commerce and prosperity through our unique diversity, with our culture and values deeply rooted in our brand promise of being "here for good."

Standard Chartered PLC is listed on the London and Hong Kong Stock Exchanges.

About Franklin Templeton

Franklin Resources, Inc. (NYSE: BEN) is a global investment management organization, with its subsidiary operating under the name Franklin Templeton, serving clients in over 150 countries worldwide. The company is committed to helping clients achieve better investment outcomes through professional asset management, wealth management, and technology solutions. Franklin Templeton nurtures professional fund managers who provide a wide range of specialized services globally, including fixed income, equities, alternative investments, and multi-asset strategies. Headquartered in California, the company has offices in major financial markets worldwide. With over 75 years of investment experience, the company has over 1,500 investment professionals. As of February 28, 2025, Franklin Templeton has assets under management of $1.58 trillion.

All investment products, including money market funds, carry risks that may result in loss of principal. Investment shares issued, redeemed, transferred, held, and recorded using blockchain technology also entail specific risks. For example, investment shares issued through blockchain technology may face risks such as but not limited to: rapidly changing blockchain regulatory environments that may lead to security, privacy, or other regulatory issues, necessitating adjustments in the way transaction records within the shares are maintained.

This article is contributed content and does not represent the views of BlockBeats.