Bitget has announced its partnership with digital asset custody provider Copper to introduce an innovative off-exchange settlement solution for institutional clients.
This collaboration will enable institutional users to engage in near real-time trading and settlement activities across multiple exchanges while securely storing their assets on Copper’s infrastructure.
The integration of Bitget’s trading platform with Copper’s Clear Loop technology will also allow institutional users access to instant trading of over 450 coins and 580 trading pairs using their deposited assets.
According to Gracy Chen, Bitget’s managing director, Bitget’s collaboration with Copper is a prime example of their continuous endeavors to enhance trust and assurance for institutional crypto users. She noted that the partnership aims to enhance trust and assurance for institutional crypto users, addressing their primary concerns of asset protection and trading strategy improvement.
Chen also praised ClearLoop’s trust documentation and its ability to meet the requirements of institutional investors.
Dmitry Tokarev, CEO of Copper, expressed enthusiasm about the partnership with Bitget and its contribution to asset security and industry standards. He noted that the collaboration further solidifies their joint dedication to ensuring asset security and raises the bar for standards within the cryptocurrency industry.
Tokarev believes enabling clients to trade directly on exchanges from Copper custody is a crucial milestone in establishing institutionalized digital asset markets.
Meanwhile, Copper has taken steps to mitigate the insolvency risk associated with using its ClearLoop technology. Copper has established a dedicated account structure for ClearLoop in which Copper acts as a security trustee, holding assets on behalf of the beneficiaries. The dedicated account structure is supported by an English law trust. Clients and exchanges involved in ClearLoop are granted security interests over their assets within the trust, ensuring mutual protection.
Bitget joins OKX and four other crypto exchanges that have partnered with Copper to offer off-exchange settlements to institutional clients using Copper’s ClearLoop technology. This series of collaborations expand the reach of Copper’s ClearLoop technology and reinforces the joint commitment to asset security and establishing institutionalized digital asset markets.
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