Chartered and OKX announced the expansion of the partnership in Europe, bringing bank-backed crypto storage to the bloc’s institutions.
Expanding Chartered & OKX to expand Crypto Partnership in EEA
As revealed in a press release, OKX is expanding its partnership with CharTressived Chartered. The duo met in April to launch the first UE-TOULT-TROPTER collaboration
Chartered are common and OKX has now decided to extend this service to investors in the European Economic Area (EEA). “This innovation gives clients around the world: Bank-grade storage and seamless exchange access, helping them reduce personal risk, strengthen asset security,” said the press release.
General Chartered is the largest UK-listed financial institution classified as a global significant bank (G-SIB) by the Financial Stability Board (FSB). G-sibs are considered to be the most important institutions in the Global Economic System that any independence related to them would have far-reaching consequences. Earlier this year, the combined standards became the first bank of this class to release the Spot Bitcoin and Edereum Desk for institutional traders.
With the OKX partnership, the bank is also the first G-Sib to join a Crypto Exchange. Okx noted that the partnership marks “a major step forward in aligning digital asset markets with the high standards of traditional finance – bringing greater certainty and mutual trust.”
OKX, currently ranked the second crypto exchange in the world based on trading volume, is licensed under the Crypto Reguet (Mic) markets, the European Union’s joint framework for Crypto Assets. “Mica provides clarity and certainty in the law, giving institutional clients the confidence to send money safely,” Read the press release. “By pairing this with innovative solutions such as integrated solutions, we help clients sell effectively in a secure environment.”
Speaking of Crypto Development of the EU, nine major banks announced at the end of September a Consortium aimed at introducing mica-compatible stablecoins. “Stablecoins” are digital assets whose values are denominated in fiat currency. Currently, this sector is dominated by USD-bound tokens, so this program aims to create a real European alternative.
The first list of participants includes the biggest European players, including the two G-sibs and anikit. According to a Bloomberg report from last week, a tenth institution is joining the Consortium: Citigroup, another G-SIB. The bank is the first non-European business to join the effort.
While there is no concrete date known when banks will issue a euro stablecoin, the first announcement noted that they intend to launch in the second half of 2026.
The price of Bitcoin
At the time of writing, Bitcoin is trading around $111,600, less than 8% higher than last week.
The price of the crypto has been unable to sustain any recovery push | Source: BTCUSDT on TradingView
Featured image from DALL-E, chart from TradingView.Com
Planning process At Bitcoinist we focus on delivering well-researched, accurate, and unlimited content. We maintain strict sourcing standards, and each page receives diligent review by our team of senior technical experts and experienced editors. This process ensures the integrity, relevance, and value of our content for our readers.
