Standard Chartered Bank and OKX launch the world's leading pledge asset mirroring project

Dubai, UAE, April 10, 2025 – Today, Standard Chartered Bank and OKX, a leading global cryptocurrency exchange and on-chain technology company, jointly announced the launch of a groundbreaking global collateral mirroring program. The program accepts digital currencies and tokenized money market funds as collateral for over-the-counter transactions from institutional clients, while a major global systemically important bank (G-SIB) is responsible for the custody of the collateral assets, significantly improving the security and capital efficiency of institutional clients’ funds.

Margaret Harwood-Jones, Head of Global Financing and Securities Services at Standard Chartered Bank, said: “In the face of the ever-changing landscape of the digital asset sector, we are well aware that robust and secure custody solutions are essential. This collaboration with OKX to support users to use digital currencies and tokenized money market funds as collateral assets marks a key step in boosting confidence and improving efficiency for our institutional clients. Leveraging Standard Chartered’s mature custody infrastructure, we will ensure the highest standards of security and compliance, thereby enhancing market trust in the digital asset ecosystem.”

The collateral mirroring program has been piloted under the regulatory framework of the Dubai Virtual Asset Regulatory Authority (VARA). The project can significantly reduce counterparty risk, a key pain point in the current digital asset market, and provide more effective protection for users. Standard Chartered Bank, as an independent custodian in the Dubai International Financial Center (DIFC), is regulated by the Dubai Financial Services Authority (DFSA) and is responsible for the safe storage of pledged assets. OKX manages pledged assets and executes transactions through its VARA licensed entity. Franklin Templeton will be one of the first money market funds launched in this joint project between OKX and Standard Chartered Bank.

Hong Fang, President of OKX, said: "As the digital asset ecosystem gradually merges with the traditional financial system, we are committed to driving industry growth with the highest capital efficiency while ensuring the security of user assets. This collaboration combines Standard Chartered's advantages as a top global custodian and OKX's market leadership in digital currency trading, setting an industry benchmark for existing and potential institutional clients and creating a trusted environment for them to deploy trading capital on a large scale."

Franklin Templeton is a recognized leader in the field of tokenization and real world assets (RWA), constantly innovating with blockchain technology to provide cutting-edge solutions for its users and customers. Through this partnership, OKX users will be able to directly use the on-chain assets developed by the Franklin Digital Assets team and seamlessly integrate them into their own financial and operational systems.

Roger Baysto, head of Franklin Templeton Digital Assets, said: "Our platform is based on blockchain technology and is designed to support the continued dynamic development of the financial ecosystem. Whether it is direct investment in blockchain assets or the development of innovative solutions by our internal team, we insist on real on-chain operations - on-chain asset minting helps to achieve true ownership, ensure that asset transfers and settlements are carried out at blockchain-level speeds, and completely break free from the constraints of traditional infrastructure."

Brevan Howard Digital, a subsidiary of Brevan Howard, a top global alternative investment management company that focuses on digital currencies and digital assets, is one of the first institutions to join this innovative project, highlighting the importance of such services jointly provided by leading international cross-border banks and top global exchanges.

Ryan Taylor, head of Brevan Howard Group Compliance and chief administrative officer of Brevan Howard Digital, said: "This project is the latest example of the industry's continued innovation and institutionalization process. As an important investor in the digital asset field, we are very pleased to work with industry leaders to jointly promote the growth and development of the global digital currency ecosystem."

Previous news, September 2024: Standard Chartered Bank launches digital asset custody services in the UAE; October 2024: OKX appoints Standard Chartered Bank as an institutional third-party custody partner | Standard Chartered Bank.

About OKX

OKX is a leading global digital currency trading platform, trusted by more than 60 million global users, and is renowned in the industry for its ultra-fast trading experience and reliable digital currency applications.

As a top partner of Premier League champion Manchester City Football Club, McLaren Formula One and Olympic athlete Scott James, OKX is committed to providing new ways of interaction to bring extraordinary experiences to fans. OKX is also a top partner of the Tribeca Art Festival, actively promoting more creators to enter the Web3 field.

OKX always adheres to the core principles of transparency and security, and regularly publishes reserve proofs every month. For more information, please download the OKX APP or visit the official website: okx.com.

Disclaimer

About Brevan Howard Digital

Brevan Howard Digital (BH Digital for short) is the digital currency and digital asset division of the Brevan Howard Group, dedicated to helping institutional investors seize the diversified investment opportunities brought about by the structural changes and innovations in blockchain technology. BH Digital adopts a multi-manager, multi-strategy investment model to provide investors with digital asset full-ecological investment opportunities in the public and private markets with free allocation, pursuit of excess returns, and diversified layout. Currently, BH Digital consists of more than 60 people, with 8 offices around the world, responsible for managing more than US$2 billion in assets. For more information, please visit www.brevanhoward.com/brevanhoward-digital/.

About Standard Chartered Bank

Standard Chartered is a leading international banking group with a business network in 53 of the world's most dynamic markets. Our purpose is to drive business and prosperity through Standard Chartered’s unique diversity, and our heritage and values are reflected in our brand promise – here for good.

Standard Chartered plc is listed on the London and Hong Kong stock exchanges.

For more stories and expert insights, visit Insights on sc.com. Follow Standard Chartered on X, LinkedIn, Instagram and Facebook.

About Franklin Templeton

Franklin Resources Ltd. (NYSE: BEN) is a global investment management firm with subsidiaries operating as Franklin Templeton in more than 150 countries around the world. The firm is committed to helping clients achieve higher returns on their investments through professional investment management, wealth management and technology solutions. Franklin Templeton develops professional investment managers and provides a full range of professional services across fixed income, equities, alternative investments and multi-asset globally. The firm is headquartered in California with offices in major financial markets around the world. The firm has over 75 years of investment experience and more than 1,500 investment professionals. As of February 28, 2025, Franklin Templeton had $1.58 trillion in assets under management. For more information, visit franklintempleton.com or follow us on LinkedIn, X and Facebook.

All investment products, including money market funds, are subject to risk, which may result in loss of principal. Investment units issued, redeemed, transferred, managed and accounted for using blockchain technology also have specific risks. For example, investment units issued using blockchain technology may be subject to risks including, but not limited to: Rapid changes in the regulatory environment for blockchain may lead to security, privacy or other regulatory issues, which may require adjustments to the way transactions are recorded within the corresponding units.