• Through a partnership 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 and OKX, a leading global cryptocurrency exchange and on-chain technology company, jointly announced the launch of a groundbreaking global pledge asset mirroring project. The project accepts institutional clients to use digital currencies and tokenized money market funds as over-the-counter pledge assets, while a major global systemically important bank (G-SIB) is responsible for the custody of pledge assets, significantly improving the fund security and capital efficiency of institutional clients.
Margaret Harwood-Jones, Head of Global Financing and Securities Services at Standard Chartered Bank, said: “In the face of the changing landscape of the digital asset sector, we understand that robust and secure custody solutions are essential. Our partnership with OKX to support the use of digital currencies and tokenized money market funds as collateral is a key step in providing confidence and efficiency to 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 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 within 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 safety of user assets. This collaboration, combined with Standard Chartered’s strength as a top global custodian and OKX’s market leadership in digital currency trading, sets an industry benchmark for existing and potential institutional clients, creating a trusted environment for them to deploy trading capital at scale.”
Franklin Templeton is a recognized leader in tokenization and real-world assets (RWA), and continues to innovate with blockchain technology to provide cutting-edge solutions for its users and clients. 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 digital assets at Franklin Templeton, 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 and ensure that asset transfers and settlements are carried out at blockchain-level speeds, completely free from the constraints of traditional infrastructure.
Brevan Howard Digital, a digital currency and digital asset subsidiary of Brevan Howard, a top global alternative investment management company, is one of the first institutions to join this innovative project, highlighting the importance of such services provided by leading international cross-border banks and top global exchanges.
Ryan Taylor, Brevan Howard Group Head of Compliance and CEO of Brevan Howard Digital, said: “This project is the latest example of the industry’s continued innovation and institutionalization. As a significant investor in the digital asset space, we are excited to be working with industry leaders to drive 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 its institutional third-party custody partner | Standard Chartered Bank .
About OKX
OKX is a leading global cryptocurrency trading platform, trusted by over 60 million global users and renowned for its ultra-fast trading experience and reliable cryptocurrency 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 publishes reserve certificates regularly every 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 for short) is the digital currency and digital asset division of 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 full-ecological investment opportunities in digital assets with free allocation, pursuit of excess returns, and diversified layout in the public and private markets. 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 presence in 53 of the worlds most dynamic markets. Our goal is to drive business development and prosperity through Standard Chartereds unique diversity, while Standard Chartereds cultural heritage and corporate values are fully reflected in its 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, Inc. (NYSE: BEN) is a global investment management firm with subsidiaries operating under the Franklin Templeton name in more than 150 countries around the world. The company is committed to helping clients achieve higher returns on their investments through professional investment management, wealth management and technology solutions. Franklin Templeton trains professional investment managers and provides professional services in fixed income, equities, alternative investments and multi-asset on a global scale. The company is headquartered in California and has offices in major financial markets around the world. The company has more than 75 years of investment experience and more than 1,500 investment professionals. As of February 28, 2025, Franklin Templeton has $1.58 trillion in assets under management. For more information, please visit franklintempleton.com or follow us on LinkedIn , X and Facebook .
All investment products, including money market funds, are subject to risks that may result in loss of principal. Investment units issued, redeemed, transferred, held in custody and accounted for using blockchain technology also have specific risks. For example, investment units issued using blockchain technology may face risks including, but not limited to: Rapid changes in the blockchain regulatory environment may lead to security, privacy or other regulatory issues, which may require adjustments to the transaction recording method within the corresponding unit.
