Bitfinex Seeks to Attract Institutional Investors With Off-Exchange Settlement

The integration will let investors make deposits and withdrawals more quickly, as well as mitigate counterparty risk.

AccessTimeIconMar 23, 2021 at 11:57 a.m. UTC
Updated Sep 14, 2021 at 12:30 p.m. UTC
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Crypto exchange Bitfinex is partnering with digital asset infrastructure provider Copper to attract institutional investors with its off-exchange settlement service.

  • Bitfinex said Tuesday it has integrated Copper’s “ClearLoop” settlement and clearing network, which removes the need for institutional customers to move digital tokens from a secure cold wallet into an exchange's hot wallet.
  • The integration of the network is intended to reduce the time it takes for investors to make deposits and withdraw funds, as well as mitigate counterparty risk by holding funds in Copper's segregated, institutional-grade custody accounts.
  • “Our platform’s relationship with Copper is driving uptake of digital token trading among hedge fund and asset managers worldwide, transforming how institutional customers engage with digital tokens, by providing market-leading custody and trading solutions,” said Paolo Ardoino, CTO at Bitfinex.
  • Bitfinex said it has collaborated with Zug-based infrastructure firm Market Synergy for “institutional standard cryptocurrency connectivity” and thus will be better able to serve those high-frequency trading firms looking for exposure to crypto.

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