DUBAI, United Arab Emirates, Nov. 05, 2024 (GLOBE NEWSWIRE) -- OKX, a leading cryptocurrency exchange and global onchain technology company, and Komainu, a leading regulated digital asset service provider and custodian, built by institutions for institutions, today announced an expansion of their partnership to offer institutional clients an enhanced off-exchange custody solution, further boosting the security of their digital assets.
In June of 2023, OKX joined Komainu's collateral management platform, Komainu Connect, to offer a secure off-exchange settlement solution for its institutional clients. This solution allows institutional clients to trade segregated assets under custody through the OKX platform 24/7. By providing clients with the ability to store assets with a regulated third-party custodian, whilst trading on exchange, this solution allows clients to better manage their counterparty risk.
The latest enhancements to OKX and Komainu’s off-exchange solution now include the following improvements for institutional clients:
- Greater scale and support: Supporting both spot and derivatives transactions on OKX
- Automated settlement: Client profit and losses are settled automatically between OKX and the client’s collateral wallet in Komainu, enhancing capital efficiency and further reducing counterparty risk
- 24/7 collateral adjustment: Ability to adjust the amount of collateral delegated to OKX from the client's regulated collateral wallet, held in Komainu's custody. Delegation is available 24/7 from the Komainu portal
- Detailed transaction and settlement history: Clients can access this information through the Komainu portal
- Holistic view of custody and collateral wallets: Providing improved audit capabilities by consolidating relevant information in one place
With the continued influx of institutional traders in the crypto space, OKX and Komainu's off-exchange solution has attracted a range of digital asset firms seeking an innovative and secure way to trade OKX products. Available 24/7, this solution offers clients optimized capital use through real-time collateral mirroring and intraday settlement modes, enhancing liquidity and trading efficiency.
On November 15, 2023, OKX announced its collaboration with Komainu, which included CoinShares, a leading European alternative asset manager specializing in digital assets, as the first client, empowering CoinShares to conduct 24/7 trading through the OKX platform while assets are held in segregated custody with Komainu.
OKX Global Chief Commercial Officer Lennix Lai said: "Institutional clients require the highest levels of security and efficiency, and our custody partnerships deliver this for a range of client needs. Our expanded partnership with Komainu combines their regulated custodial services with our robust trading infrastructure and deep liquidity to offer greater scale and support for off-exchange custody clients who execute spot and derivatives transactions on our platform.”
Paul Frost-Smith, Co-CEO at Komainu said: "We are excited to expand our reach, offering our enhanced OKX off-exchange solution to more clients. This collaboration is testament to our mission of providing secure and compliant digital asset servicing solutions.”
Robert Johnson, Co-CEO at Komainu, added: “By leveraging our industry-leading custodial offering and OKX’s robust trading infrastructure, we are building a high-quality network for our clients, to deliver a frictionless, segregated and secure experience.”
For further information, please contact:
About OKX Institutional
OKX Institutional is a global leader trusted by international firms and counterparties, and provides a powerful suite of institutional crypto trading solutions such as an on-demand OTC liquidity network, structured products and managed accounts. OKX infrastructure is built for institutional traders, with unified account systems, integration with leading custodians and low-latency APIs.
With industry leading monthly Proof-of-Reserves and trading volumes, deep liquidity, and 99.99% uptime, OKX combines top-tier security with speed and reliability. It offers access to over 700 spot trading pairs, 280+ derivatives instruments, and up to 125x leverage on leading futures contracts.
To learn more about OKX Institutional, visit: okx.com/institutions or contact institutional@okx.com to accelerate your institutional crypto trading objectives.
About Komainu
Komainu is a regulated digital asset custodian and service provider, headquartered in Jersey, with offices in London, Dubai, and Singapore. Built by institutions for institutions, Komainu offers multi-asset support, bank-grade governance and multi-jurisdictional regulatory oversight, merging expertise from traditional financial services with leading security standards for the next generation of institutional digital asset custody, servicing & financing solutions, as well as providing an enterprise gateway for institutions to access the digital asset ecosystem.
Komainu (Jersey) Limited is regulated by the Jersey Financial Services Commission.
Komainu MEA FZE is regulated by the Dubai Virtual Assets Regulatory Authority.
Komainu (UK) Limited is registered with the UK Financial Conduct Authority.
Komainu Europe S.r.l. has an OAM registration in Italy.
For more information, visit https://www.komainu.com
This announcement is provided for informational purposes only. It is not intended to provide any investment, tax, or legal advice, nor should it be considered an offer to purchase, sell, hold or offer any services relating to digital assets. Digital assets, including stablecoins, involve a high degree of risk, can fluctuate greatly, and can even become worthless. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition and risk tolerance. OKX does not provide investment or asset recommendations. You are solely responsible for your investment decisions, and OKX is not responsible for any potential losses. Past performance is not indicative of future results. Not all products are available in all regions. Please consult your legal/tax/investment professional for questions about your specific circumstances. OKX Middle East Fintech FZE is licensed by the Virtual Assets Regulatory Authority (VARA) to provide VA Exchange Services, VA Management and Investment Services, and VA Lending and Borrowing Services. OKX Middle East Fintech FZE operates under VASP Reference: VL/23/12/003.
