BitGo and Copper have launched a trading and settlement solution that allows clients to trade on Deribit while securing assets off-exchange in qualified custody. The solution, powered by BitGo’s Go Network and Copper’s ClearLoop infrastructure, addresses concerns over security and operational efficiency.
The new model enables multi-custodial settlement, reducing counterparty risk and improving capital efficiency for institutional investors.
“Copper represents a fundamental shift in how investors can access exchanges”
Brett Reeves, Head of Go Network, highlighted the importance of this shift. “Our partnership with Copper represents a fundamental shift in how investors can access exchanges. Holding assets in qualified custody and settling through ClearLoop’s tried and tested settlement process delivers what the market has been asking for—a seamless and secure way to trade.”
BitGo and Copper began developing off-exchange settlement solutions in 2022 as institutional demand for secure trading infrastructure increased. The firms sought to address the risks associated with centralized exchanges holding client funds.
By 2023, Copper expanded its ClearLoop network to integrate with major cryptocurrency exchanges, allowing investors to trade while maintaining custody of their assets. BitGo introduced its Go Network to facilitate real-time settlements across multiple trading venues.
Ben Lorente, Strategic Alliances Director at Copper, previously described the initiative as a necessary evolution in digital asset markets. “This partnership with BitGo expands our multi-custodial network within our off-exchange settlement network ClearLoop and is a significant step towards our commitment to industry interoperability of secure, reliable, and comprehensive solutions for institutional investors.” The new integration with Deribit represents a further step toward establishing a standard for secure cryptocurrency trading.
BitGo launched OTC trading desk
Earlier this week, BitGo officially launched its comprehensive over-the-counter (OTC) trading desk, led by industry veterans Matt Ballensweig (formerly of Genesis and Bridgewater) and Stefan Von Haenisch (formerly of OSL Group). The prominent digital asset infrastructure provider and independent qualified custodian was already operating the OTC trading desk in stealth mode since early 2024.
The OTC desk has already processed billions in trading volume and established a lending book exceeding $150 million, catering to leading asset managers, according to BitGo.
The platform offers 24/7/365 services across all major time zones. Clients can engage in seamless spot and derivatives trading across more than 250 assets, access lending services, and utilize yield-generating products—all integrated with BitGo’s regulated qualified custody. This integration ensures that client assets remain in insured qualified custody through BitGo’s regulated entities worldwide, even while leveraging OTC services.
The OTC desk provides clients with the flexibility to trade various products, including spot, derivatives, lending, and yield-generating offerings, all within a single platform. It sources liquidity from numerous exchanges and liquidity providers to offer competitive pricing and dynamic order types, such as limit/stop orders and time-weighted average price (TWAP) strategies. Additionally, BitGo enables transactions in locked or unvested Layer 1 tokens, leveraging its position as a preferred custodian for major protocols. Client assets remain secure within BitGo’s regulated custody throughout the trading process, benefiting from industry-leading technology, robust controls, and $250 million in insurance coverage.
A key feature of BitGo’s offering is the integration of trade settlement via the Go Network, BitGo’s settlement infrastructure launched in 2023. This allows clients to receive proceeds in cryptocurrency or cash instantly, without the need to send funds on-chain to another market maker, thereby minimizing prefunding risks prevalent in the market.
Founded in 2013, BitGo offers a range of digital asset solutions, including custody, wallets, staking, trading, financing, and settlement services from regulated cold storage. Serving over 2,000 institutional clients across 90 countries, BitGo is dedicated to advancing a borderless digital financial services economy accessible around the clock.
