Through Collaboration with Franklin Templeton, Standard Chartered Bank and OKX Launch Pledged Asset Mirror Project
Standard Chartered Bank, in conjunction with the global digital currency exchange and on-chain technology company OKX, has launched an innovative global pledged asset mirror project that supports the use of digital currencies and tokenized money market funds as pledged assets. Top investment firms such as Brevan Howard Digital will participate in this innovative project.
(Background: OKX Chief Business Officer Lennix: OKX Wallet is committed to building a self-custody and multi-chain ecosystem, balancing innovation and compliance)
(Additional Background: OKX Wallet independent wallet app has been launched on the Google Store)
This article is a sponsored piece provided by OKX and does not represent the views of the BlockBeats, nor does it constitute investment advice, purchase, or sale recommendations. Please refer to the responsibility disclaimer at the end of the article.
April 10, 2025, Dubai, UAE – Today, Standard Chartered Bank and the leading global digital currency exchange and on-chain technology company OKX jointly announced the launch of a groundbreaking global pledged asset mirror project. This project allows institutional clients to use digital currencies and tokenized money market funds as over-the-counter pledged assets, while a major Global Systemically Important Bank (G-SIB) will be responsible for the custody of the pledged assets, significantly enhancing the security of funds and capital efficiency for institutional clients.
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 crucial. This collaboration with OKX, allowing users to utilize digital currencies and tokenized money market funds as pledged assets, marks a critical step in boosting confidence and improving efficiency for our institutional clients. By 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 pledged asset mirror project has been initiated 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 Bank, 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 pledged assets. OKX will manage the pledged assets and execute 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, 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 security of user assets. This partnership combines the strengths of Standard Chartered Bank as a leading global custodian with OKX’s market leadership in digital currency trading, setting a 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 tokenization and real-world assets (RWA) space, 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 utilize on-chain assets developed by the Franklin Digital Assets team and seamlessly integrate them into their financial and operational systems.
Roger Baysto, Head of Franklin Templeton Digital Assets, stated: “Our platform relies on blockchain technology to support the ongoing dynamic development of the financial ecosystem. Whether through direct investment in blockchain assets or the innovative solution development by our internal team, we adhere to authentic on-chain operations—on-chain asset minting facilitates true ownership and ensures that asset transfers and settlements occur at blockchain-level speeds, completely freeing us from the constraints of traditional infrastructure.”
Brevan Howard Digital, a subsidiary of the world’s leading 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 and top global exchanges.
Ryan Taylor, Chief Compliance Officer of Brevan Howard and CEO of Brevan Howard Digital, stated: “This project is the latest example of the industry’s ongoing innovation and institutionalization process. 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.”
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