In recent weeks, partnerships between major crypto firms and global institutions have drawn significant attention from investors. OKX’s strategic alliance with Standard Chartered Bank, Visa’s partnership with Coinbase for instant crypto transactions, and Circle’s Web3-focused agreement with Hong Kong’s HKT are the latest collaborations to make headlines.
OKX Partners with Standard Chartered Bank
OKX recently announced a strategic partnership with Standard Chartered Bank, establishing the respected financial institution as a third-party crypto custody provider for OKX’s institutional clients. OKX executives emphasized that this alliance will enhance security and trust for corporate investors, underscoring Standard Chartered’s global standing. As one of Hong Kong’s primary bond-issuing banks with a strong reputation in international finance, Standard Chartered brings significant credibility to OKX’s institutional offerings. Citing an Economist Impact report indicating that 80% of institutional investors prefer third-party custody solutions, OKX highlighted the industry’s demand for reliable custodial services.
Visa and Coinbase Enable Instant Crypto Transactions
Visa and Coinbase have entered a new partnership, allowing eligible Visa debit cardholders to make instant crypto transactions via the Coinbase platform. This service will be available in both the U.S. and the European Union, enabling users to access their bank accounts 24/7. Yanilsa Gonzalez Ore, Visa Direct’s North America president, noted that the collaboration offers crypto users enhanced flexibility and continuous trading opportunities.
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Coinbase users, depending on local banking policies, will benefit from seamless, real-time deposits and withdrawals. In Europe, recent MiCA regulations provide a stable regulatory environment for crypto firms like Coinbase to operate, while in the U.S., Coinbase is intensifying lobbying efforts to advocate for crypto-friendly policies ahead of the upcoming elections.
Circle’s Strategic Collaboration with HKT in Hong Kong
Circle has signed a Memorandum of Understanding (MoU) with Hong Kong-based HKT to develop blockchain-powered customer loyalty solutions. This collaboration leverages HKT’s extensive merchant network and expertise in customer engagement to bring Circle’s Web3 services to a broader audience. Blockchain technology enables value-driven, dynamic customer interactions, offering unique customer experiences. Circle’s CEO, Jeremy Allaire, highlighted that this partnership aims to improve customer satisfaction while equipping businesses with tools essential for success in the digital economy.
For more detailed insights into the latest developments in crypto partnerships, The Bit Journal provides in-depth coverage and updates on strategic collaborations and their impact on the digital economy.
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