Crypto Trading Platform Bitget to Offer Off-Exchange Settlement With Copper’s ClearLoop
Digital assets safely held within Copper’s infrastructure can be simultaneously delegated to trade on Bitget.
May 25, 2023 at 8:00 a.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/5G2XXFJNJJDINABPIQK6JM75EA.jpg)
A Copper-branded keychain. (Danny Nelson/CoinDesk)
Crypto exchange Bitget will be partnering with custody firm Copper and joining the ClearLoop network, the company said in a statement Thursday.
Bitget’s integration with ClearLoop will allow institutional clients of both companies to hold digital assets within Copper’s infrastructure while at the same time delegating those assets to trade on the exchange. Client assets are deposited on Copper’s platform and then linked to a Bitget account.
“Institutional crypto investors are primarily seeking ways to safeguard their assets and optimize trading,” said Gracy Chen, managing director of Bitget.
“Bitget’s partnership with Copper exemplifies our ongoing efforts to boost confidence among institutional crypto users,” she added.
Bitget is the sixth exchange this year to join Copper’s ClearLoop network. Earlier this month crypto service provider Matrixport also said it was joining the platform.
The crypto exchange said last month that it had started a $100 million fund targeting Web3 startups as Asian countries build a framework for developing Web3.
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Will Canny is CoinDesk's finance reporter.
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