OKX joins Komainu Connect for off-exchange settlement and tripartite mirroring
“Komainu Connect is rapidly emerging as the leading collateral management solution. Partnering with one of the world’s largest crypto exchanges is a testament to the infrastructure and expertise committed to this service and our focus remains on seamless execution for all parties.”
OKX has joined collateral management platform Komainu Connect to allow institutional customers to conduct secure 24/7 trading of segregated assets under custody through the OKX platform.
The world’s second largest cryptocurrency exchange by trading volume has recently joined Copper.co’s off-exchange settlement platform, Clearloop.
The partnership with Komainu expands OKX’s global reach and access to the safest digital asset trading conditions possible.
Komainu Connect removes the need to store collateral with counterparties
It was in April 2023 that Komainu went live with Komainu Connect, a new collateral management service that allows clients to leverage their digital assets in collateralization scenarios whilst they remain in secure, regulated custody, segregated, and verifiable on chain.
The solution was launched to address an industry requirement to reduce counterparty risk by removing the need to store collateral with trading counterparties.
The off-exchange settlement and tripartite mirroring solution is a significant step forward for large-scale institutional crypto traders requiring immediate access to OKX’s market leading portfolio margin account mode and liquid markets.
Komainu was established in 2018 to provide institutions with a secure and compliant custody service for investment in digital assets. Launched in June 2020, Komainu currently custodies assets for exchanges, financial institutions, asset managers, corporations, and government agencies.
Komainu Connect as the leading collateral management solution
Nicolas Bertrand, CEO at Komainu, said: “This strategic partnership marks a milestone in our mission to provide secure and compliant digital asset custody solutions. OKX’s reputation as a leading cryptocurrency exchange, combined with our expertise in institutional-grade custody services is paving the way for a new era of trust and innovation in the industry.”
Sebastian Widmann, Head of Strategy at Komainu, commented: “Komainu Connect is rapidly emerging as the leading collateral management solution. Partnering with one of the world’s largest crypto exchanges is a testament to the infrastructure and expertise committed to this service and our focus remains on seamless execution for all parties.”
Lennix Lai, Global Chief Commercial Officer at OKX, added: “Institutions need the peace of mind that comes with knowing their assets are being kept safe with a leading custodian, while retaining their ability to capitalize when investment opportunities arise. That is why we are delighted to partner with Komainu to allow investors a way to keep their assets secure while not compromising on returns.”