Standard Chartered and cryptocurrency exchange OKX are piloting a new program allowing institutions to use crypto assets and tokenized money market funds (MMFs) as collateral. Announced on April 10, the collateral mirroring program enables off-exchange collateral usage while enhancing security by placing custody with a globally systemically important bank, according to a joint statement from the companies. The pilot has been launched under the regulatory oversight of the Dubai Virtual Asset Regulatory Authority, with Standard Chartered acting as a regulated custodian in the Dubai International Financial Centre (DIFC). The program launched in collaboration with crypto-friendly asset manager Franklin Templeton and features Brevan Howard Digital among the first institutions to trial the new capability
source: https://cointelegraph.com/news/standard-chartered-okx-pilot-off-exchange-collateral-institution?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound