Through collaboration with Franklin Templeton, the project supports the use of digital currencies and tokenized money market funds as collateral assets. Top investment firms such as Brevan Howard Digital will participate in this innovative project.
April 10, 2025, Dubai, UAE — Today, Standard Chartered Bank announced the launch of a groundbreaking global collateral asset mirroring project in partnership with OKX, a leading global digital currency exchange and on-chain technology company. This project accepts institutional clients using digital currencies and tokenized money market funds as over-the-counter collateral assets, while a major global systemically important bank (G-SIB) is responsible for the custody of the collateral assets, significantly enhancing the security and capital efficiency of institutional clients' funds.
Margaret Harwood-Jones, Head of Global Financing and Securities Services at Standard Chartered Bank, stated: “In the face of the ever-changing landscape of digital assets, we recognize that robust and secure custody solutions are essential. This collaboration with OKX, which supports users in using 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 project has launched a pilot under the regulatory framework of the Dubai Virtual Assets Regulatory Authority (VARA). The project can significantly reduce counterparty risk, a key pain point in the current digital asset market, providing users with more effective protection. Standard Chartered, as an independent custodian within the Dubai International Financial Centre (DIFC), is regulated by the Dubai Financial Services Authority (DFSA) and is responsible for the secure storage of collateral assets. OKX manages the collateral 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.
Hong Fang, President of OKX, stated: “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 safety of user assets. This collaboration combines the advantages of Standard Chartered as a top global custodian with OKX's market leadership in digital currency trading, setting an industry benchmark for existing and potential institutional clients and creating a trustworthy environment for large-scale deployment of trading capital.”
Franklin Templeton is a recognized leader in the field of tokenized and real-world assets (RWA), continuously innovating through blockchain technology to provide cutting-edge solutions for its users and clients. Through this collaboration, OKX users will be able to directly use on-chain assets developed by the Franklin Digital Assets team and seamlessly integrate them into their financial and operational systems.
Roger Baysto, Head of Digital Assets at Franklin Templeton, stated: “Our platform is built on blockchain technology, aimed at supporting the ongoing dynamic development of the financial ecosystem. Whether through direct investment in blockchain assets or the development of innovative solutions by our internal team, we adhere to the principle of true on-chain operations—minting on-chain assets facilitates genuine ownership, ensuring that asset transfers and settlements occur at blockchain-level speed, completely freeing us from the constraints of traditional infrastructure.”
Brevan Howard Digital, a subsidiary of the global top alternative investment management firm Brevan Howard focused on digital currencies and digital assets, is one of the first institutions to join this innovative project, highlighting the importance of such services provided by internationally leading cross-border banks in collaboration with top global exchanges.
Ryan Taylor, Chief Compliance Officer of Brevan Howard Group and CEO of Brevan Howard Digital, stated: “This project is the latest example of ongoing innovation and institutionalization in the industry. As a significant investor in the digital asset space, we are very pleased to collaborate with industry-leading institutions to jointly promote the growth and development of the global digital currency ecosystem.”
Previously reported, September 2024: Standard Chartered Bank launches digital asset custody service in the UAE; October 2024: OKX names Standard Chartered as institutional third-party custody partner | Standard Chartered.
About OKX
OKX is a leading global digital currency trading platform trusted by over 60 million users worldwide, renowned for its fast trading experience and reliable digital currency applications.
As a top partner of Premier League champions Manchester City Football Club, McLaren Formula 1 Racing, and Olympic athlete Scott James, OKX is committed to providing new interactive ways to deliver extraordinary experiences to fans. OKX is also a top partner of the Tribeca Film Festival, actively promoting more creators to enter the Web3 space.
OKX adheres to the core principles of transparency and security, regularly publishing proof of reserves each month. For more information, please download the OKX APP or visit the official website: okx.com.
About Brevan Howard Digital
Brevan Howard Digital (BH Digital) is the digital currency and digital asset division of Brevan Howard Group, dedicated to helping institutional investors seize diverse investment opportunities arising from structural changes and innovations in blockchain technology. BH Digital employs a multi-manager, multi-strategy investment model, providing investors with a full ecosystem of digital asset investment opportunities in both public and private markets, pursuing excess returns and diversified allocations. Currently, BH Digital consists of over 60 people and has 8 offices worldwide, managing over $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 network spanning 53 of the world's most dynamic markets. Our goal is to drive business growth and prosperity through Standard Chartered's unique diversity, fully reflected in our brand promise—“Here for good.”
Standard Chartered Group Limited is listed on the London and Hong Kong stock exchanges.
For more stories and expert insights, please visit the Insights section of sc.com. Follow Standard Chartered Bank on X, LinkedIn, Instagram and Facebook.
About Franklin Templeton
Franklin Resources, Inc. (NYSE: BEN) is a global investment management organization, with subsidiaries operating under the Franklin Templeton name in over 150 countries. The company is dedicated to helping clients achieve higher investment returns through professional investment management, wealth management, and technology solutions. Franklin Templeton cultivates professional investment managers to provide a wide range of specialized services in fixed income, equity, alternative investments, and multi-asset globally. The company is headquartered in California and has offices in major financial markets worldwide. With over 75 years of investment experience, the company has more than 1,500 investment professionals. As of February 28, 2025, Franklin Templeton's assets under management totaled $1.58 trillion. For more details, please visit franklintempleton.com or follow our LinkedIn, X, and Facebook accounts.
All investment products, including money market funds, carry risks and may result in the loss of principal. Investment shares issued, redeemed, transferred, custodied, and recorded based on blockchain technology also carry specific risks. For example, the risks that investment shares issued through blockchain technology may face include but are not limited to: rapid changes in the blockchain regulatory environment, which may lead to security, privacy, or other regulatory issues, necessitating adjustments to the transaction record-keeping methods within the corresponding shares.
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