OKX, the world's second-largest crypto exchange , has announced its integration with Komainu Connect, a collateral management platform. This partnership will allow institutional customers to execute secure, around-the-clock trading of segregated assets under custody.
OKX to Utilize Komainu Connect
Komainu, a regulated digital asset custody service provider, launched the Connect platform in April 2023 to mitigate counterparty risks for clients. The service eliminates the need for customers to store collateral with trading partners. Instead, it is offering them the ability to keep assets in safe custody.
OKX's collaboration with Komainu is set to bridge the gap between secure custodial services and continuous investment opportunities. The arrangement allows for increased trust and innovation in the digital asset landscape, marking an important step toward providing secure and compliant digital asset custody solutions.
"We're paving the way for a new era of trust and innovation in the industry," Nicolas Bertrand, the CEO at Komainu, commented. "The combination of OKX's reputation as a leading cryptocurrency exchange, and our expertise in providing institutional-grade custody services is what makes this partnership strategic."
The Head of Komainu strategy, Sebastian Widmann, underscored the rapid emergence of Komainu Connect as a premier collateral management solution. He noted that the partnership with OKX serves as a testament to the platform's strong infrastructure and dedicated expertise.
Secure Crypto Trading for Institutions
The off-exchange settlement and tripartite mirroring solution provided through collaboration signals a significant advancement for large-scale institutional crypto traders. They will have immediate access to OKX's market-leading portfolio margin account mode and liquid markets, offering a unique combination of security and convenience.
The partnership will ensure the safety of institutional assets and enable immediate access to investment opportunities, as pointed out by Lennix Lai, the Global Chief Commercial Officer at OKX. In the first quarter of 2023, OKX's on-demand liquidity network aimed at institutional clients, called Liquid Markets, reached more than $1 billion in trading volumes.
"Institutions need peace of mind knowing their assets are safe with a leading custodian while retaining their ability to capitalize on investment opportunities. That's why we are delighted to partner with Komainu," Lai added.
Since its establishment in 2018, Komainu has committed to providing secure and compliant custody services for digital asset investments. Currently, the firm serves a broad range of clients, including exchanges and financial institutions.
OKX Eyes New Jurisdictions
Recently, OKX applied for a French digital asset service provider (DASP) license. The company's objective is to establish the country as its regional hub. The news came a month after the establishment of the local subsidiary, OKX France and registration with the Autorité des Marchés Financiers (AMF). This move aims to ensure compliance with European laws and enable the exchange to provide a comprehensive range of products and services in the European market.
In addition to expanding its presence in France, OKX is actively establishing itself in various regions worldwide. Now, the crypto exchange is planning to apply for a digital asset license in Hong Kong. Furthermore, OKX has already inaugurated an office in the Chinese self-administrative region.
In the latest update, the platform published an updated Proof of Reserves (PoR) report, showing $10 billion in collateral for BTC, ETH and USDT.
