Standard charter and replacement of cryptocurrencies OKX are piloting a novel program, enabling institutions to employ cryptocurrency assets and toxated money market funds (MMFS) as security.
Announced On April 10, the mirror security program allows the employ of security outside of movement, while increasing security, placing care in a globally significant bank, as is the joint statement of the companies.
The pilot was launched as part of the regulatory supervision in Dubai Virtual Asset Regulators Authority, with the standard chartered as an regulated guardian at the Dubai International Financial Center (DIFC).
The program began in cooperation with the Franklin Templeton and Brevana Howard Digital -friendly resource manager among the cryptocurrency manager among the first institutions that break novel possibilities.
OKX customers to access Franklin Templeton assets
As part of cooperation, OKX customers will have access to onchain assets developed by the Franklin Templeton digital assets team.
“We accept an authentic approach, from direct investing in blockchain assets to developing innovative solutions with our internal team,” said the head of digital assets Franklin Templeton, Roger Baiston, adding:
“By ensuring that the assets are broken, we enable real property, enabling them to move and settle at blockchain speed – eliminating the need for traditional infrastructure.”
According to the announcement, Franklin Templeton will be one of the first in the “MMF series” to be offered as part of the program by the Standard Chartered and OKX.
Standard chartered tokenized funds
In the cryptographic loan industry, security is every resource based on blockchain used to secure loans from the lender as a safety measure when collecting a loan. By enabling borrowers to oblige these assets, the lender guarantees that the loan will be repaid.
Despite the high volatility of digital assets, Margaret Harwood-Jones from Standard Chartered, the global head of financing services and securities, is stubborn about cryptographic security as the main step in the evolution of institutional cryptographic services.
Visual cryptographic loan process with security and deposits. Source: Coinrabbit
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“Our cooperation with OKX in order to enable the use of cryptocurrencies and toxled MMF as a security is a significant step forward in providing institutional clients with the necessary certainty and performance,” said Harwood-Jones, adding: adding: adding:
“Using our established care infrastructure, we provide the highest safety standards and compliance with regulations, supporting greater confidence in the digital asset ecosystem.”
According to Ryan Taylor, head of compliance with Brevan Howard, the program is another example of continuous innovation and institutionalization in the cryptographic industry.
“As a significant investor in digital digital space, we are happy to cooperate with industry leaders for further development and evolution of the cryptographic ecosystem around the world,” he noted.
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