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Standard Chartered and OKX launch collateral mirroring programme for institutional clients
Standard Chartered and OKX have launched a collateral mirroring programme, allowing institutional clients to use cryptocurrencies and tokenised money market funds as off-exchange collateral for trading. This initiative enhances security and capital efficiency, with Standard Chartered acting as the regulated custodian in the Dubai International Financial Centre. The programme, piloted under the Dubai Virtual Asset Regulatory Authority, aims to mitigate counterparty risks and has attracted early participation from institutions like Brevan Howard Digital.
standard chartered launches crypto custody services in the european union
Standard Chartered has received approval to offer digital asset custody services in the European Union, establishing a new entity in Luxembourg as a regulatory entry point. This move follows the implementation of the Markets in Crypto Assets (MiCA) regulation, with Laurent Marochini appointed as CEO. The bank aims to support institutional clients in accessing the digital asset ecosystem, having already launched similar services in the UAE.
Standard Chartered launches Luxembourg entity for EU crypto custody services
Standard Chartered has launched a new entity in Luxembourg to provide crypto custody services, initially focusing on Bitcoin and Ethereum, with plans to expand by 2025. Laurent Marochini has been appointed CEO, and the move aligns with the implementation of the Markets in Crypto Assets (MiCA) regulation, enhancing the bank's digital asset offerings in the EU.
movement labs nearing 100 million funding round amid crypto market resurgence
Movement Labs, a San Francisco-based team developing a layer-2 blockchain on Ethereum, is nearing the completion of a $100 million Series B funding round, valuing the company at approximately $3 billion. The funding surge follows a rebound in crypto markets, driven by renewed investor interest and a favorable political climate. Investors will receive equity and the proprietary Move token, which has seen significant trading activity since its launch in December.
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