Standard Chartered Bank Partners with OKX to Launch Global Leading Asset Staking Mirror Project

By: blockbeats|2025/04/10 21:30:03

Source: OKX

On April 10, 2025, Dubai, United Arab Emirates—Today, Standard Chartered Bank and the leading global cryptocurrency exchange and blockchain technology company OKX jointly announced the launch of a groundbreaking global collateral asset mirroring project. The project allows institutional clients to use digital assets and tokenized fiat market funds as off-exchange trading collateral assets, with custody of the collateral assets entrusted to a global systemically important bank (G-SIB), significantly enhancing the safety and capital efficiency of institutional client funds.

Margaret Harwood-Jones, Global Head of Financing and Securities Services at Standard Chartered Bank, said: "In the face of the ever-changing landscape of digital assets, we recognize the critical importance of a robust, secure custody solution. This collaboration with OKX, supporting users to utilize digital assets and tokenized fiat market funds as collateral assets, signifies a key step forward in boosting confidence and efficiency for our institutional clients. Leveraging Standard Chartered Bank's mature custodial infrastructure, we will ensure the highest standards of security and compliance, thereby enhancing market trust in the digital asset ecosystem."

The collateral mirroring project has launched a pilot under the regulatory framework of the Dubai Virtual Asset Regulatory Authority (VARA). The project significantly reduces the counterparty risk, a key pain point in the current digital asset market, providing users with more effective protection. Standard Chartered Bank, as an independent custodian within the Dubai International Financial Centre (DIFC) regulated by the Dubai Financial Services Authority (DFSA), is responsible for securely storing the collateral assets. OKX, through its VARA-licensed entity, manages the collateral assets and executes transactions. Franklin Dampson will be one of the first money market funds launched in this joint project between OKX and Standard Chartered Bank.

Hong Fang, CEO of OKX, said: "As the digital asset ecosystem gradually merges with the traditional financial system, we are committed to driving industry growth with the highest capital efficiency while safeguarding user asset security. This collaboration combines the strengths of Standard Chartered Bank as a top global custodian and OKX's market-leading position in the cryptocurrency trading sector, setting an industry benchmark for existing and potential institutional clients and creating a trusted environment for their large-scale deployment of trading capital."

Franklin Dampson is a recognized leader in the tokenization and real-world assets (RWA) field, continuously innovating with blockchain technology to provide cutting-edge solutions for its users and clients. Through this collaboration, OKX users will be able to directly utilize on-chain assets developed by the Franklin Digital Assets team and seamlessly integrate them into their own financial and operational systems.

Roger Baysto, Head of Digital Assets at Franklin Dampson, said: "Our platform is built on blockchain technology with the aim of supporting the ongoing dynamic development of the financial ecosystem. Whether it's direct investment in blockchain assets or the development of innovative solutions by our in-house team, we adhere to on-chain operations—on-chain asset minting helps achieve true ownership, ensuring asset transfers and settlements are conducted at blockchain-level speeds, completely free from the constraints of traditional infrastructure."

The global top alternative investment management company Brevan Howard's subsidiary focusing on digital currencies and digital assets, Brevan Howard Digital, is one of the first institutions to join this innovative project, highlighting the importance of such services provided by leading international cross-border banks and top global trading platforms working together.

Ryan Taylor, Group Head of Compliance at Brevan Howard and CEO of Brevan Howard Digital, stated, "This project is the latest example of ongoing industry innovation and institutionalization. As a significant investor in the digital asset space, we are excited to collaborate with industry-leading institutions to drive the growth and development of the global digital currency ecosystem."

Previously in the news, September 2024: Standard Chartered Bank launches digital asset custody services in the UAE; October 2024: OKX appoints Standard Chartered Bank as its institutional third-party custody partner | Standard Chartered Bank.

About OKX

OKX is a leading global cryptocurrency exchange trusted by over 60 million users worldwide, renowned for its fast trading experience and reliable cryptocurrency application.

As a top partner of the English Premier League champion Manchester City Football Club, McLaren Formula One racing, and Olympic athlete Scott James, OKX is committed to providing a new interactive way to bring extraordinary experiences to fans. OKX is also a top partner of the Art Basel festival, actively promoting more creators to enter the Web3 space.

OKX always adheres to the core principles of transparency and security, regularly publishing reserve proof every month. For more information, please download the OKX APP or visit the official website.

Disclaimer

About Brevan Howard Digital

Brevan Howard Digital (referred to as BH Digital) is the digital currency and digital asset division of the Brevan Howard Group, dedicated to helping institutional investors seize the diverse investment opportunities brought by blockchain technology's structural transformation and innovation. BH Digital adopts a multi-manager, multi-strategy investment approach, providing investors in both public and private markets with a free allocation, pursuit of excess returns, and diversified layout of the digital asset full ecosystem investment opportunities. Currently, BH Digital, consisting of over 60 individuals, operates in 8 global offices, managing over $20 billion in assets. For more information, please visit the official website.

About Standard Chartered Bank

Standard Chartered is a leading international banking group with a presence in 53 of the world's most dynamic markets. Our aim is to drive commerce and prosperity through our unique diversity, with our culture and values deeply rooted in our brand promise of being "here for good."

Standard Chartered PLC is listed on the London and Hong Kong Stock Exchanges.

About Franklin Templeton

Franklin Resources, Inc. (NYSE: BEN) is a global investment management organization, with its subsidiary operating under the name Franklin Templeton, serving clients in over 150 countries worldwide. The company is committed to helping clients achieve better investment outcomes through professional asset management, wealth management, and technology solutions. Franklin Templeton nurtures professional fund managers who provide a wide range of specialized services globally, including fixed income, equities, alternative investments, and multi-asset strategies. Headquartered in California, the company has offices in major financial markets worldwide. With over 75 years of investment experience, the company has over 1,500 investment professionals. As of February 28, 2025, Franklin Templeton has assets under management of $1.58 trillion.

All investment products, including money market funds, carry risks that may result in loss of principal. Investment shares issued, redeemed, transferred, held, and recorded using blockchain technology also entail specific risks. For example, investment shares issued through blockchain technology may face risks such as but not limited to: rapidly changing blockchain regulatory environments that may lead to security, privacy, or other regulatory issues, necessitating adjustments in the way transaction records within the shares are maintained.

This article is contributed content and does not represent the views of BlockBeats.

On March 16, 2026, in Dallas, Texas, USA, CanGu Company (New York Stock Exchange code: CANG, hereinafter referred to as "CanGu" or the "Company") today announced its unaudited financial performance for the fourth quarter and full year ended December 31, 2025. As a btc-42">bitcoin mining enterprise relying on a globally operated layout and dedicated to building an integrated energy and AI computing power platform, CanGu is actively advancing its business transformation and infrastructure development.

2025 Full Year and Fourth Quarter Financial and Operational Highlights

• Financial Performance:

Total revenue for the full year 2025 was $688.1 million, with $179.5 million in the fourth quarter.

Bitcoin mining business revenue for the full year was $675.5 million, with $172.4 million in the fourth quarter.

Full-year adjusted EBITDA was $24.5 million, while the fourth quarter was -$156.3 million.

• Mining Operations and Costs:

A total of 6,594.6 bitcoins were mined throughout the year, averaging 18.07 bitcoins per day; of which 1,718.3 bitcoins were mined in the fourth quarter, averaging 18.68 bitcoins per day.

The average mining cost for the full year (excluding miner depreciation) was $79,707 per bitcoin, and for the fourth quarter, it was $84,552;

The all-in sustaining costs were $97,272 and $106,251 per bitcoin, respectively.

As of the end of December 2025, the company has cumulatively produced 7,528.4 bitcoins since entering the bitcoin mining business.

• Strategic Progress:

The company has completed the termination of the American Depositary Receipt (ADR) program and transitioned to a direct listing on the NYSE to enhance information transparency and align with its strategic direction, with a long-term goal of expanding its investor base.

CEO Paul Yu stated: "2025 marked the company's first full year as a bitcoin mining enterprise, characterized by rapid execution and structural reshaping. We completed a comprehensive adjustment of our asset system and established a globally distributed mining network. Additionally, the company introduced a new management team, further strengthening our capabilities and competitive advantage in the digital asset and energy infrastructure space. The completion of the NYSE direct listing and USD pricing also signifies our transformation into a global AI infrastructure company."

"As we enter 2026, the company will continue to optimize its balance sheet structure and enhance operational efficiency and cost resilience through adjustments to the miner portfolio. At the same time, we are advancing our strategic transformation into an AI infrastructure provider. Leveraging EcoHash, we will utilize our capabilities in scalable computing power and energy networks to provide cost-effective AI inference solutions. The relevant site transformations and product development are progressing simultaneously, and the company is well-positioned to sustain its execution in the new phase."

The company's Chief Financial Officer, Michael Zhang, stated: "By 2025, the company is expected to achieve significant revenue growth through its scaled mining operations. Despite recording a net loss of $452.8 million from ongoing operations, mainly due to one-time transformation costs and market-driven fair value adjustments, the company, from a financial perspective, will reduce its leverage, optimize its Bitcoin reserve strategy and liquidity management, introduce new capital to strengthen its financial position, and seize investment opportunities in high-potential areas such as AI infrastructure while navigating market volatility."

Fourth Quarter 2025 Ongoing Operations Financial Performance

Revenue

The total revenue for the fourth quarter was $1.795 billion. Of this, the Bitcoin mining business contributed $1.724 billion in revenue, generating 1,718.3 Bitcoins during the quarter. Revenue from the international automobile trading business was $4.8 million.

Operating Costs and Expenses

The total operating costs and expenses for the fourth quarter amounted to $4.56 billion, primarily attributed to expenses related to the Bitcoin mining business, as well as impairment of mining machines and fair value losses on Bitcoin collateral receivables.

This includes:

· Cost of Revenue (excluding depreciation): $1.553 billion

· Cost of Revenue (depreciation): $38.1 million

· Operating Expenses: $9.9 million (including related-party expenses of $1.1 million)

· Mining Machine Impairment Loss: $81.4 million

· Fair Value Loss on Bitcoin Collateral Receivables: $171.4 million

Profit Situation

The operating loss for the fourth quarter was $276.6 million, a significant increase from a loss of $0.7 million in the same period of 2024, primarily due to the downward trend in Bitcoin prices.

The net loss from ongoing operations was $285 million, compared to a net profit of $2.4 million in the same period last year.

The adjusted EBITDA was -$156.3 million, compared to $2.4 million in the same period last year.

Full Year 2025 Ongoing Operations Financial Performance

Revenue

The total revenue for the full year was $6.881 billion. Of this, the revenue from the Bitcoin mining business was $6.755 billion, with a total output of 6,594.6 Bitcoins for the year. Revenue from the international automobile trading business was $9.8 million.

Operating Costs and Expenses

The total annual operating costs and expenses amount to $1.1 billion.

Specifically, they include:

· Revenue Cost (excluding depreciation): $543.3 million

· Revenue Cost (depreciation): $116.6 million

· Operating Expenses: $28.9 million (including related-party expenses of $1.1 million)

· Miner Impairment Loss: $338.3 million

· Bitcoin Collateral Receivable Fair Value Change Loss: $96.5 million

Profitability

The full-year operating loss is $437.1 million. The continuing operations net loss is $452.8 million, while in 2024, there was a net profit of $4.8 million.

The 2025 non-GAAP adjusted net profit is $24.5 million (compared to $5.7 million in 2024). This measure does not include share-based compensation expenses; refer to "Use of Non-GAAP Financial Measures" for details.

Financial Position

As of December 31, 2025, the company's key assets and liabilities are as follows:

· Cash and Cash Equivalents: $41.2 million

· Bitcoin Collateral Receivable (Non-current, related party): $663.0 million

· Miner Net Value: $248.7 million

· Long-Term Debt (related party): $557.6 million

In February 2026, the company sold 4,451 bitcoins and repaid a portion of related-party long-term debt to reduce financial leverage and optimize the asset-liability structure.

Stock Repurchase

As per the stock repurchase plan disclosed on March 13, 2025, as of December 31, 2025, the company had repurchased a total of 890,155 shares of Class A common stock for approximately $1.2 million.

The US AI Startup Is Loving China's Open Source Model

80% of US AI Startups Are Using Chinese Open Source Models

Three Weeks of the US-Iran War: Who's Making Money, Who's Paying the Bill?

Global Losing 10 Million Barrels of Oil Each Day, Russia Earns Over $800 Million in Just Over Two Weeks

Interpreting Polymarket's Major Update Last Night: Fee Expansion, Self-Regulation, and New Incentives

Although there is no information about a token airdrop, the overall community sentiment is optimistic. The real good news is to rhythmically control the positive promotion.

From Human Application to Intelligent Collaboration: How GOAT Network Builds the Next Generation Digital Economy

Embracing the Era of Super Individuals: GOAT Network launches Bitcoin-secured Layer 2 exclusive infrastructure, fully empowering AI entities to usher in a new era of fully automated digital economy.

CZ Washington Dialogue: Crypto Entrepreneurs are Accelerating Their Return to the United States

CZ connects with the DC Blockchain Summit: The prison memoir is about to be published, harshly criticizing the inaccuracies of traditional media reports, and pointing out that if the U.S. wants to become the "global crypto capital," it urgently needs to introduce more sufficient market competition t...