Bitget and ClearLoop, Enabling Institutional Investors to Access Off-Exchange Crypto Trading

Crypto News– Crypto exchange Bitget has successfully integrated with Copper’s ClearLoop network, introducing an innovative off-exchange trading and settlement solution catering to institutional clients.

Bitget and ClearLoop, Enabling Institutional Investors to Access Off-Exchange Crypto Trading

The collaboration’s primary goal is to fortify digital asset security, diminish counterparty risks, and enhance capital efficiency, as highlighted in an official statement.

Bitget’s institutional customers can confidently safeguard their digital assets in Copper’s MPC (multi-party computation) wallet while simultaneously engaging in trading and settlement activities across various exchanges connected through ClearLoop. MPC, a cryptographic technology, advances existing multi-signature techniques by enabling the division of wallet keys among multiple parties. Gracy Chen, Managing Director of Bitget, stated, “Recognizing the increasing demand for augmented asset security and streamlined trading solutions, this solution stands to greatly benefit institutional clients.”

Copper CEO Dmitry Tokarev echoed the sentiment, emphasizing how the partnership bolsters off-exchange settlement for institutional clientele, aligning with both entities’ shared commitment to asset security and industry standards.

Bitget asserts that this integration enhances capital efficiency by permitting cross-exchange trading strategies sans the burden of supplementary transfer and withdrawal fees. Furthermore, it acts as a bulwark against the risks prevalent in traditional trading models, such as liquidity and operational uncertainties.

The system addresses insolvency risk by housing assets securely in a dedicated ClearLoop omnibus account, subject to English law, providing insolvency protection for all participants within the ClearLoop ecosystem, according to Bitget.

In a separate development, Bitget recently unveiled a cryptocurrency loans product, demonstrating resilience and innovation despite the challenging landscape faced by centralized crypto lending services in 2022— a year marred by the collapse of companies like Celsius, BlockFi, and Voyager Digital.

Additionally, Bitget launched a pioneering $100 million web3 venture fund in April, designed for global investments with a focus on the Asian market.