- Summary:
- Bitget says the solution enables its clients to enjoy better transaction efficiency and reduce risks associated with traditional models.
Bitget, a market leader in crypto derivatives and copy trading, has announced that it has successfully integrated with Copper’s ClearLoop network. As a result of the integration, Bitget’s institutional clients now have access to an innovative off-exchange settlement solution, which improves asset security, reduces counterparty risks, and maximises capital efficiency.
How off-exchange settlement improves transaction efficiency
When it comes to digital assets, off-exchange settlement can improve security, reduce counterparty risk, and maximise capital efficiency. Bitget and Copper say that they have joined forces to provide better digital asset security and trade solutions.
Copper’s ClearLoop network has been integrated with Bitget, allowing institutional clients to quickly settle trades and safely deposit digital assets in Copper’s MPC (multi-party computation) wallet. Clients are able to trade and settle across exchanges when they employ this technology. Ultimately, this will boost the effectiveness of their trades and reduce the dangers inherent in more conventional trading methods.
Bitget’s custodial account provides a wide range of trading options for its customers, including spot trading, margin trading, futures trading, spot copy trading, futures copy grids, and spot grids. However, there are limitations on certain services, including on-chain cryptocurrency deposits and withdrawals, internal transfers, and fiat currency deposits. By working together with Copper through ClearLoop, Bitget is able to provide this innovative service to its institutional clientele, strengthening its position as a market leader in the cryptocurrency exchange industry.
According to Bitget, integrating ClearLoop reduces the risks associated with traditional trading models, including common ones like liquidity and operational risks, and boosts capital efficiency by enabling cross-exchange trading techniques without additional transfer and withdrawal fees.
By delegating and trading across ClearLoop-connected exchanges, institutional clients can adopt cross-exchange trading strategies without incurring transfer and withdrawal costs, thus optimising the efficiency of their capital. ClearLoop allows its customers to trade and settle across several exchanges in near real-time, reducing counterparty risk and maximising capital efficiency in the process.