.okx is the first major exchange to choose Nomura-backed crypto custodian KomainuCustody. By IanAllison123.
OKX, the world’s second largest cryptocurrency exchange by trading volume, has enlisted the services of digital asset storage firm Komainu, allowing institutional users to keep their crypto within the Nomura-backed custodian while using those funds to trade on the exchange.
“Funds deposited in a Komainu custody wallet are moved to a Komainu collateral wallet and then linked to an OKX account,” OKX chief commercial officer Lennix Lai told CoinDesk via email. “The OKX account then mirrors the balance and allows active trading across OKX's 700-plus spot and derivatives markets.”
“There exists a tri-party legal agreement between Komainu as the custodian and OKX as the liquidity venue and provider, and Komainu’s client, as the client of OKX,” Widmann said in an interview. “This allows Komainu’s client to trade directly on exchange with Komainu taking care of the settlement requirements.”
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