tl;dr
Standard Chartered becomes the first G-SIB to partner with a crypto exchange in the EU, integrating bank-grade custody with OKX's infrastructure under MiCA framework, marking a regulatory milestone for hybrid digital asset markets.
**Standard Chartered and OKX Forge Landmark Partnership, Paving the Way for Regulated Crypto Markets in Europe**
Regulators across Europe are closely watching as Standard Chartered becomes the first Global Systemically Important Bank (G-SIB) to directly expand a partnership with a crypto exchange into the European Union. This move marks a significant milestone in the convergence of traditional finance and digital assets, signaling a shift toward regulatory acceptance of hybrid custody models under the European Union’s Markets in Crypto-Assets (MiCA) framework.
The collaboration between Standard Chartered and OKX integrates the bank’s regulated custody services into OKX’s European institutional offering, enabling institutions to trade on the exchange while securely custodizing their assets with the bank. This arrangement addresses a critical concern for regulators and large investors: counterparty risk. By allowing clients to trade on OKX while maintaining bank-grade security, the partnership enhances asset protection and provides a seamless blend of banking infrastructure and exchange liquidity.
“This expansion highlights Standard Chartered’s confidence as the first and only G-SIB to work directly with a crypto exchange, and the growing trust of regulators in this model,” said Erald Ghoos, CEO of OKX Europe, in the announcement.
The partnership builds on an earlier collaboration launched in the UAE in April 2025, where the two firms introduced the collateral mirroring program. This innovative structure allowed bank-grade custody and exchange-level liquidity to operate together, setting a precedent for secure, compliant digital asset management. The model’s extension to the European Economic Area positions OKX as one of the few exchanges globally to align its infrastructure with banking-grade security and compliance standards.
For Standard Chartered, the expansion represents a strategic milestone. Margaret Harwood-Jones, Global Head of Financing and Securities Services at the bank, emphasized that combining the bank’s custody infrastructure with OKX’s regulatory framework ensures “the highest standards of security and compliance for institutional clients in Europe.”
The collaboration also underscores OKX’s broader strategic transformation. As the exchange secures local licenses and expands its compliance operations, executives are redefining its global identity. “Building transparency, compliance, and trust takes years of real work—local licenses, 500+ compliance professionals, partnerships with global banks like Standard Chartered. This is how crypto grows up,” said OKX CEO Star Xu.
OKX’s Chief Marketing Officer, Haider Rafique, highlighted the exchange’s shift from offshore to onshore operations, including expanding local offices, hiring professionals from banking and law enforcement, and strengthening its ability to collaborate with regulators.
The timing of the announcement is particularly notable amid heightened regulatory scrutiny of the crypto sector. Recent enforcement actions, including OFAC and FinCEN designations against entities like the Huione Group for facilitating crypto-related fraud, have intensified calls for accountability. OKX has publicly distanced itself from such entities, reaffirming its commitment to strict internal controls and regulatory trust.
For Europe’s crypto ecosystem, the Standard Chartered–OKX partnership represents more than a business achievement—it signals the maturation of institutional-grade digital asset markets under regulatory oversight. By integrating bank-backed security and transparency into a once largely unregulated domain, the collaboration sets a new standard for the future of finance.
As regulators continue to shape the evolving crypto landscape, this partnership could serve as a blueprint for how traditional finance and digital assets can coexist securely, fostering growth and trust in the years to come.