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OKX is partnering with Standard Chartered to enable institutional clients to use crypto as collateral in a regulated way. OKX (OKB) is boosting its offering for institutional clients. On Thursday, April 10, a crypto exchange partnered with Standard Chartered , with backing from Brevan Howard and Franklin Templeton, to launch a collateral mirroring program. This program will enable institutional clients to keep their collateral with Standard Chartered, instead of with OKX. The exchange will then “mirror” this collateral into their accounts, without ever taking custody of the funds. You might also like: OKX: A Crypto-to-Crypto and Fiat Exchange The program launched as a pilot, complying with Dubai’s Virtual Asset Regulatory Authority (known as VARA) regulations. Standard Chartered will serve as a custodian under that framework, supervised by Dubai’s financial regulators. “Standard Chartered acts as the independent, regulated custodian in the Dubai International Financial Centre (DIFC), regulated by the Dubai Financial Services Authority, ensuring the safe storage of the assets used as collateral,” OKX Why OKX offers Standard Chartered custody There is growing demand among institutions for crypto trading. For instance, CME Group reported a 73% increase in the daily average volume of its crypto futures market. However, these institutional clients don’t trust crypto exchanges with custody of their funds. For instance, exchanges run a risk of hacking and bankruptcy, like in the case of FTX . This, in turn, exposes institutional clients to counterparty risk, potentially leading to billions in losses. You might also like: OKX developer spills details about OKX Wallet app ‘too early’ At the same time, regulations for crypto exchanges are typically less stringent than those for banks or other financial institutions. For this reason, collateral mirroring enables institutions to safeguard their funds with a trusted party. What’s more, Standard Chartered is a Globally Systemically Important Bank, meaning it falls under some of the strictest regulations in financial markets. User funds are segregated from the bank’s balance sheet, ensuring they are protected even if Standard Chartered encounters financial difficulty. Read more: OKX hit with $1.2m fine from Maltese authorities for breaching AML rules: report
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Grocery Giant SPAR Dips Toe Into Crypto Payments
SPAR, a global grocery retailer with a significant presence including over 13,900 stores across 48 countries in Europe, Asia, Africa, and Australia, is reportedly testing cryptocurrency payments in Switzerland. A post on Linkedin indicated that a SPAR store in Zug, Switzerland, is accepting bitcoin payments via the Lightning Network. This trial marks one of the crypto.news
GoMining taps industry veterans for new advisory board
Bitcoin ( BTC ) mining platform GoMining has formed a new advisory board to reinforce its strategic direction, enhance operational execution, and broaden its market presence, as revealed in an April 17 X post . The GoMining Advisory Board is here! We’ve gathered industry veterans with deep know-how and the leadership to drive real change. @gleb_crypto – CEO @blumcrypto , Ex- @binance exec who led Asia expansion. @ChartFuMonkey – CEO at Magic Internet Moneyz, NFT and Web3 strategist.… pic.twitter.com/APNfMmGa1Z — GoMining (@GoMining_token) April 17, 2025 Two renowned industry veterans will be part of this new board. The first is Gleb Kostarev, the Chief Executive Officer (CEO) and co-founder of cryptocurrency trading app Blum.io. A former senior leader at Binance, Kostarev, oversaw the exchange’s expansion into Asia and the Commonwealth of Independent States . Coupled with a background in both centralized and decentralized spaces, the executive’s experience with large-scale growth initiatives is meant to bolster GoMining’s strategic posture as it endeavors to expand Bitcoin’s real-world applications. The second industry leader to join the board is Igor Milihram, known also pseudonymously as ‘ChartFuMonkey’, the CEO of Magic Internet Moneyz. A Web3 veteran since the early days, Milihram was the first hire at Magic Eden ( ME ), where he helped launch hundreds of non-fungible token ( NFT ) projects on the marketplace and was a key player in shaping the platform’s growth strategy. ChartFuMonkey’s blend of practical expertise and deep market understanding could be a great boon for GoMining’s future endeavors. What are GoMining’s expansion plans? At present, GoMining’s BTC-centric ecosystem is some 3.5 million users strong. The platform offers access to digital mining and allows users to purchase Terahashes ( TH ) of mining capacity linked directly to its real-world data centers. By doing so, GoMining offers a convenient way for both newcomers and the DeFi -savvy to begin mining — positioning it as a key driver of cryptocurrency adoption. Kostarev and Milihram, together with the rest of the GoMining advisory board, will support the expansion of the ecosystem — and the long-term vision includes exciting new developments such as debit and virtual cards, a marketplace, as well as expanded functionalities made to expand the utility of every BTC reward gained through the platform. Moreover, there are plans for a BTC-FI-focused launchpad, with the goal of providing early access to a suite of Bitcoin-centric initiatives not just to users who stake on the GOMINING token, but those who own Terahashes as well. Featured image via Shutterstock The post GoMining taps industry veterans for new advisory board appeared first on Finbold . crypto.news
