Matrixport Integrates With Copper’s ClearLoop on Prime Brokerage Offerings

The collaboration will see Matrixport working with Copper’s ClearLoop to offer institutional clients off-exchange settlement.

AccessTimeIconMay 16, 2023 at 4:00 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

Crypto service provider Matrixport is joining forces with crypto custodian Copper to enhance its client access to prime brokerage offerings, according to a press release.

The collaboration will see Matrixport integrating with Copper’s ClearLoop to offer its institutional clients off-exchange settlement. Copper’s ClearLoop network allows investors to hold on to assets until just before a trade is executed by connecting multiple exchanges in one secure trading loop.

  • Rep. French Hill 'Rejects' Gensler's Argument Ahead of FIT21 Vote
    14:50
    Rep. French Hill 'Rejects' Gensler's Argument Ahead of FIT21 Vote
  • Donald Trump-Themed Meme Coins Are Breeding Crypto Millionaires
    01:04
    Donald Trump-Themed Meme Coins Are Breeding Crypto Millionaires
  • SEC's Gensler Pushes Back Against House Bill; Crypto Exchanges Form Coalition to Tackle Scams
    01:40
    SEC's Gensler Pushes Back Against House Bill; Crypto Exchanges Form Coalition to Tackle Scams
  • Former SEC Senior Trial Counsel on Spot Ether ETF Approval Outlook
    12:10
    Former SEC Senior Trial Counsel on Spot Ether ETF Approval Outlook
  • This allows users to keep their assets securely within Copper’s infrastructure while trading on ClearLoop-connected exchanges through Matrixport sub-accounts, according to the press release. “This process not only ensures clients are protected from exchange counterparty risks but also promotes capital efficiency,” reads the release

    “This partnership demonstrates our shared commitment to building a more secure, transparent, and accessible financial market infrastructure in the digital asset industry,” said Dmitry Tokarev, chief executive officer at Copper. “Copper has implemented a dedicated account structure for ClearLoop to address potential insolvency risks,” he added.

    Matrixport closed a $100 million Series C round in August 2021 that valued the company att $1 billion.

    Edited by Stephen Alpher.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Lyllah Ledesma

    Lyllah Ledesma is a CoinDesk Markets reporter currently based in Europe. She holds bitcoin, ether and small amounts of other crypto assets.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.