Standard Chartered Bank and global digital currency exchange OKX have announced a pioneering staking asset mirroring project, enabling institutional clients to use digital currencies and tokenized money market funds as over-the-counter collateral. A globally systemically important bank (G-SIB) will custody these assets, enhancing fund security and capital efficiency.
Key Highlights
- Enhanced Security: Standard Chartered’s custody infrastructure ensures compliance and safeguards assets.
- Capital Efficiency: Tokenized money market funds (e.g., Franklin Templeton’s offerings) optimize liquidity.
- Regulatory Pilot: Launched under Dubai’s Virtual Assets Regulatory Authority (VARA) framework, reducing counterparty risks.
👉 Explore how this collaboration redefines institutional crypto finance
Industry Perspectives
Standard Chartered Bank
Margaret Harwood-Jones, Head of Global Financing and Securities Services:
"Our custody solutions bridge digital and traditional finance, boosting institutional confidence. Partnering with OKX aligns with our mission to foster trust in the digital asset ecosystem."
OKX
Hong Fang, President:
"Merging traditional finance with blockchain requires top-tier security and efficiency. This project sets a benchmark for institutional adoption."
Franklin Templeton
Roger Baysto, Head of Digital Assets:
"True asset ownership via blockchain accelerates settlements and unlocks liquidity. Our tokenized funds exemplify this innovation."
Pilot Participants
- Brevan Howard Digital: Early adopter, emphasizing institutional-grade services.
- Franklin Templeton: Among the first to list tokenized money market funds on the platform.
FAQs
1. What are the benefits of staking asset mirroring?
It reduces counterparty risk, improves capital efficiency, and integrates blockchain liquidity with traditional finance.
2. How does custody work?
Standard Chartered Bank, regulated by Dubai’s DFSA, securely holds staking assets while OKX manages transactions.
3. Which assets are accepted?
Digital currencies and tokenized money market funds (e.g., Franklin Templeton’s offerings).
4. Is this project regulated?
Yes, it operates under Dubai’s VARA framework, ensuring compliance.
👉 Learn more about institutional crypto solutions
About the Collaborators
OKX
- 60M+ users globally.
- Partners: Manchester City FC, McLaren Racing.
- Monthly proof of reserves for transparency.
Standard Chartered Bank
- Operates in 53 markets.
- Focus: Secure custody and regulatory compliance.
Franklin Templeton
- $1.58T AUM.
- Leader in tokenized funds and RWA innovation.
Disclaimer: Investments carry risks, including loss of principal. Blockchain-based assets face regulatory and technological risks.
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