Bitget Partners with Copper and Joins ClearLoop Network, Offering Off-Exchange Settlement for Institutional Clients
On May 25, 2023, leading crypto trading platform Bitget made an exciting announcement regarding its collaboration with custody firm Copper and its participation in the ClearLoop network. Through this strategic partnership, institutional clients of both companies will have the opportunity to securely hold digital assets within Copper’s infrastructure while simultaneously utilizing Bitget’s exchange platform for trading.
ClearLoop, an esteemed network of liquidity providers tailored for institutions, facilitates off-exchange settlement of cryptocurrency trades. This innovative solution empowers institutional clients to engage in direct crypto trading with one another, eliminating the need for traditional exchanges. Consequently, this streamlined process has the potential to reduce costs and enhance liquidity for institutional investors.
The alliance between Bitget and Copper marks a significant milestone within the crypto industry as it represents the first instance of a major crypto exchange integrating with a custody firm to offer off-exchange settlement services. This groundbreaking collaboration is poised to attract a greater number of institutional investors to the thriving crypto market.
Outlined below are the key benefits stemming from Bitget’s partnership with Copper’s ClearLoop:
- Reduced costs: Institutional clients can enjoy cost savings by directly trading with one another, bypassing the need for exchanges and associated fees.
- Improved liquidity: ClearLoop’s extensive liquidity pool ensures enhanced trade execution prices for institutional clients.
- Increased security: As a regulated custody firm, Copper provides a secure environment for institutional clients to safeguard their digital assets.
Overall, Bitget’s partnership with Copper’s ClearLoop network constitutes a highly positive development for the crypto industry. This collaboration has the potential to entice more institutional investors into the market and enhance the trading experience for this segment of participants.
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