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.

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.