Copper.co, a digital asset custody provider, has partnered with OKX, the world’s second-largest crypto exchange by trading volume, to offer off-exchange settlements to institutional clients with Copper’s ClearLoop technology.
According to the announcement, the integration of ClearLoop with OKX empowers institutional users of both firms to maintain their assets within Copper’s infrastructure and authorize trading on OKX. This allows clients to trade across OKX’s extensive range of over 700 spot and derivatives markets, with any differences in account balances automatically resolved through the API.
The partnership benefits institutional traders dealing with digital assets on a large scale as it provides them with fast access to alternate asset storage options and OKX’s highly liquid markets and trading tools.
Alessandro Balata, Portfolio Manager at Fasanara Capital, stated that the benefits of utilizing OKX and Copper’s ClearLoop are abundantly clear. Balata remarked that they have a sense of flexibility to transfer and manage their assets while still being in Copper’s secure custody.
Balata stated:
“ClearLoop has become a critical component in helping institutional investors mitigate exchange counterparty risk.”
Dmitry Tokarev, Copper’s CEO, emphasized that the continuous influx of institutional volume into Copper’s ClearLoop platform reflects the industry’s commitment to maintaining high standards for asset security and trading.
Tokarev noted:
“OKX is an essential trading venue for institutional investors, who will now be able to manage their assets efficiently thanks to the ClearLoop integration.”
According to a report by DeFi Planet, OKX plans to expand its cryptocurrency services to Australia, citing the country as a significant growth market. The crypto exchange currently serves over 100 nations worldwide and intends to establish a strong local presence to serve Australian customers.
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