OKX Expands Collateral Mirroring Program to Europe with Standard Chartered
OKX is bringing its collateral mirroring program with Standard Chartered to the European Economic Area. This move aims to expand its services under the MiCA license.
The program allows institutional clients to store digital assets with Standard Chartered while mirroring their balances on OKX for trading. This service blends traditional finance with the crypto market, offering bank-grade custody and crypto trading access.
Initially launched in the UAE, the service now targets Europe. OKX’s team stated, “This expansion enables global trading and secure digital asset storage.”
Margaret Harwood-Jones, Global Head at Standard Chartered, emphasized leveraging existing custody infrastructure and regulatory frameworks for security and compliance.
The expansion aligns with the EU’s MiCA framework, which sets uniform rules for crypto asset service providers. It ensures user asset safety and reduces counterparty and custody risks.
However, OKX faces regulatory scrutiny. it received fines in Malta and the Netherlands for AML non-compliance and unregistered crypto services.
Despite challenges, OKX aims to build a safer, more reliable digital asset ecosystem in Europe.The collateral mirroring mechanism ensures assets are held in a regulated banking environment while being tradable on a licensed platform.
