BIT, a digital asset exchange, has announced an update to its integration with Copper‘s ClearLoop, a leading digital asset settlement network.
BIT and Copper Enhance Institutional Crypto Trading Security
This upgrade aims to transform the crypto trading experience for institutional customers by offering expanded trading tools and enhanced asset protection.
Unified Margin Function and USD-Margined Options
The updated integration now supports BIT’s Unified Margin function, enabling traders to use all of their assets as collateral. Additionally, the update converts previously supported coin-margined options to USD-margined options. This change reduces customers’ exposure to counterparty risk.
ClearLoop Trust Structure for Enhanced Security
The integration also implements the new ClearLoop trust structure, which offers additional protections against counterparty risk through Copper’s market-leading legal framework.
ClearLoop’s technical capabilities for off-exchange settlement remain unaltered, but the integration now includes the critical advantage of bankruptcy remoteness provided by ClearLoop’s legal structure.
BIT and Copper: Revolutionizing Crypto Trading
BIT and Copper’s enhanced integration aims to provide institutional customers with a smooth and secure trading platform.
Customers can easily use BIT’s trading services without having to move assets from Copper custody, alleviating typical security issues associated with trading on cryptocurrency exchanges.
About BIT and Copper
BIT is a digital asset exchange launched in August 2020 as a Matrixport affiliate. It is particularly popular among institutional investors due to its crypto options trading offering. Its superior risk management and fund efficiency are supported by Portfolio Margin and Unified Margin.
Copper is a SOC2 Type 2 accredited startup formed in 2018. It is the heart of ClearLoop, which allows customers to trade and settle in near real-time across several exchanges, reducing counterparty risk and enhancing capital efficiency.
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