BitGo, Copper Team Up for Off-Exchange Derivatives Trading

BitGo and Copper have joined forces to introduce a novel trading solution that facilitates off-exchange settlement on derivatives exchange Deribit. This innovative model enables clients to engage in spot and derivatives trading while keeping their assets securely stored off-exchange. Users will benefit from BitGo Trust's qualified custody services, while trades will automatically settle through Copper's ClearLoop solution.

The partnership between BitGo and Copper is set to provide traders with a multi-custodial settlement solution, offering integrated liquidity, capital efficiency, and qualified custody. Brett Reeves, head of Go Network at BitGo, emphasized the significance of this collaboration, stating that it delivers a seamless and secure way to trade by combining qualified custody with ClearLoop's proven settlement process.

Ben Lorente, director of strategic alliances at Copper, expressed his enthusiasm about the partnership, noting that it represents a significant step towards greater interoperability in the market. The solution is expected to support institutional adoption of cryptocurrency, as it addresses the need for secure and efficient trading and settlement processes.

BitGo has been making waves in the industry with its recent initiatives, including the launch of a global over-the-counter trading desk for institutions. This desk allows clients to trade, lend, and hedge across more than 250 assets, including layer-1 tokens, altcoins, and meme coins. The company's expansion into new services and partnerships further solidifies its position as a leading custodian in the crypto space.

Earlier this year, BitGo reached a significant milestone by surpassing $100 billion in assets under custody, reinforcing its status as a major player in the industry. Founded in 2013, the U.S.-based company continues to expand its global footprint, catering to both institutional and retail customers. As BitGo continues to grow, it is reportedly considering an initial public offering, which could further cement its position in the market.