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.
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 offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.