BitGo has teamed up with Copper to launch an innovative trading model that facilitates off-exchange settlement on the derivatives exchange Deribit.
This new solution allows clients to engage in spot and derivatives trading while securely holding their assets off-exchange. Users can take advantage of BitGo Trust’s qualified custody services, with trades automatically settling through Copper’s ClearLoop solution.
In conjunction with this partnership, BitGo has unveiled a global over-the-counter trading desk aimed at institutional clients. This platform enables trading, lending, and hedging across over 250 digital assets, including layer-1 tokens, altcoins, and meme coins.
The collaboration with Copper and Deribit will offer traders a multi-custodial settlement solution, enhancing liquidity, capital efficiency, and qualified custody.
“By holding assets in qualified custody and utilizing ClearLoop’s robust settlement process, we are providing the market with a seamless and secure trading experience,” stated a representative from BitGo.
According to Copper’s strategic alliances director, this new model signifies a pivotal advancement toward enhanced interoperability in the crypto market, facilitating increased institutional adoption of cryptocurrencies.
Earlier this year, BitGo achieved a significant milestone by surpassing $100 billion in assets under custody, solidifying its status as a premier custodian. The platform also offers trading, staking, and financing solutions.
Founded in 2013 and based in the U.S., BitGo is committed to expanding its global reach, serving both institutional and retail customers, and is reportedly exploring the possibility of an initial public offering.
