Copper, BitGo Team Up for Off-Exchange Crypto Settlement

BitGo and Copper have collaborated to introduce an off-exchange settlement model, integrating with Deribit, a leading crypto options and futures exchange. This innovative solution aims to enhance the efficiency and security of digital asset settlement processes.

The new model, dubbed "Copper Clear," leverages BitGo's institutional-grade custody and Copper's post-trade infrastructure to facilitate seamless and secure off-exchange settlement. By integrating with Deribit, the platform will support a wide range of cryptocurrencies, including Bitcoin, Ethereum, and other popular digital assets.

The integration with Deribit will enable users to access a broader range of trading options and futures contracts, further expanding the utility of the Copper Clear platform. This collaboration is expected to attract more institutional investors and traders, who value the security, efficiency, and regulatory compliance offered by the platform.

The off-exchange settlement model offers several advantages, such as reduced counterparty risk, improved capital efficiency, and enhanced privacy for market participants. By settling trades off-exchange, the platform can minimize the impact of market volatility and reduce the risk of front-running and other manipulative practices.

Copper and BitGo have been working together to develop this innovative solution for some time, with the goal of addressing the challenges faced by institutional investors in the digital asset space. The collaboration builds on the strengths of both companies, with BitGo's robust custody and security capabilities and Copper's advanced post-trade infrastructure.

The integration with Deribit further enhances the platform's appeal to institutional investors, who are increasingly seeking exposure to cryptocurrencies and other digital assets. The platform's regulatory compliance and robust security features make it an attractive option for institutions looking to enter the crypto market.

The introduction of the Copper Clear platform is a significant development in the digital asset space, as it addresses many of the challenges faced by institutional investors and traders. By offering an efficient, secure, and compliant off-exchange settlement model, the platform is poised to attract more institutional investors and contribute to the growth and maturation of the crypto market.