Overview
- OKX and Standard Chartered expanded their collateral mirroring program to the European Economic Area, enabling real-time trading on OKX while assets remain in bank custody.
- The expansion leverages OKX’s MiCA license granted in Malta and Standard Chartered’s Luxembourg approval to offer digital asset custody, with the G‑SIB acting as independent custodian.
- The model aims to reduce counterparty and custodial risk by separating asset storage from exchange operations, mirroring balances 1:1 for trading access.
- The initiative scales a UAE pilot launched in April 2025 that has surpassed $100 million in assets under custody, with clients reported to include Brevan Howard Digital.
- Regulatory scrutiny remains in focus after OKX fines in Europe, including €1.1 million in Malta for AML failings and €2.25 million in the Netherlands for offering services without registration.