Standard Chartered and OKX have announced a partnership expansion into Europe, bringing bank-backed crypto custody to institutions in the bloc.
Standard Chartered and OKX have now decided to expand this service to investors in the European Economic Area (EEA). “This innovation gives clients the best of both worlds: bank-grade custody and seamless exchange access, helping them reduce counterparty risk, strengthen asset security, and trade with greater confidence,” said the press release.
With the OKX partnership, the bank has also become the first G-SIB to team up with a crypto exchange. OKX noted that the collaboration marks “a major step forward in aligning digital asset markets with the highest standards of traditional finance—bringing greater assurance and credibility for institutions and clients alike.”
OKX, currently ranked the second largest crypto exchange in the world based on trading volume, is licensed under the Markets in Crypto Assets Regulation (MiCA), the European Union’s unified framework for crypto assets. “MiCA provides clarity and certainty in regulation, which gives institutional clients the confidence to deploy capital securely,” read the press release. “By pairing this with innovative solutions like collateral mirroring, we’re helping clients trade more efficiently in a safeguarded environment.”
While no concrete date is known for when the banks will release the euro stablecoin, the initial announcement noted that they are aiming for a launch in the second half of 2026.
At the time of writing, Bitcoin is trading around $111,600, down more than 8% over the last week.
