OKX has announced a partnership with Forteus, a digital asset management firm, and Komainu, a regulated digital asset custody provider. This agreement enables Forteus to trade continuously on the OKX platform while its assets remain securely held in segregated custody with Komainu.
Custody Secures Crypto Trading
Under the terms of the arrangement, Komainu will provide qualified custody services and cold storage for Forteus's digital assets. The system allows for off-exchange settlement and mirrored balances, ensuring institutional traders can access OKX’s trading solutions without transferring assets between platforms.
These services include the Liquid Marketplace, a network for spot OTC, futures spreads, and options liquidity.
We're pleased to announce a tripartite agreement between @OKX, @KomainuHQ and @numeusxyz for institutional trading:1️⃣ 24/7 trading access on OKX 2️⃣ Regulated custody with Komainu 3️⃣ Off-exchange settlement 4️⃣ Real-time balance mirroringFull details:… pic.twitter.com/LAqqOpWPfS
— OKX Institutional (@OKXInsto) November 27, 2024
Earlier, OKX announced the selection of Standard Chartered as a third-party crypto custodian for its global institutional operations, as reported by Finance Magnates. Standard Chartered offers cross-border financial services connecting international markets.
The collaboration expands OKX’s institutional services, which include trading tools, risk management resources, and custody options. OKX aims to utilize Standard Chartered's expertise in global banking and risk management to enhance its custody solutions for institutional clients.
Liquidity Enhanced Through Custody
The collaboration offers several advantages for institutional traders. Assets are securely stored by Komainu, an independent custodian, ensuring compliance with regulatory standards.
Forteus gains the ability to trade at any time, supported by efficient settlement processes that eliminate the need for constant asset transfers.
Legal frameworks define responsibilities and dispute resolution, promoting confidence in the arrangement. Additionally, real-time collateral mirroring enhances liquidity and trading efficiency, optimizing capital use.
This partnership builds on OKX's June 2023 announcement of its integration with Komainu Connect, a collateral management platform launched in April 2023. Komainu Connect allows institutional clients to trade securely without holding collateral with trading counterparties.
This article was written by Tareq Sikder at www.financemagnates.com.
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