Subject to internal due diligence, contract completion, and integration, this partnership will see Bittrex Global integrate with Copper’s ClearLoop network.
As one of the most secure digital asset exchanges in the world, Bittrex Global (Bermuda) Limited (Bittrex Global) is now partnering with Copper to further bolster its digital asset security for the exchange’s institutional investors.
Subject to internal due diligence, contract completion, and integration, this partnership will see Bittrex Global integrate with Copper’s ClearLoop network — giving its institutional investors access to nearly instant, off-exchange settlement. Clients will soon be able to trade on Bittrex Global without being required to move assets from Copper’s custodial environment. This functionality improves operational efficiency, which is crucial during times of volatility when blockchain transaction confirmation times increase substantially as traders look for opportunities.
Clients will also benefit from Copper’s market-first trust documentation — built to mitigate exchange counterparty and insolvency risks.
Copper has established a new account structure dedicated to ClearLoop over which Copper has created an English law trust. Copper is appointed as the trustee and holds the client-delegated assets and Bittrex Global collateral in the account on behalf of clients and Bittrex Global as beneficiaries. Clients and Bittrex Global also grant a security interest over their assets within the trust in favour of each other. Within the trust, Bittrex Global posts collateral to facilitate settlement per a pre-determined settlement schedule. The collateral is monitored 24/7 by Copper’s financial risk team, giving both clients and Bittrex Global comfort that settlement obligations will be met.
Dmitry Tokarev, CEO of Copper said: “Partnering with Bittrex Global represents a significant step for both companies, as market infrastructure providers collaborate to serve a heightened focus on counterparty risk management in the wake of recent market events. We remain committed to providing industry-leading off exchange settlement, as we see a growing demand pour in from across the market.”
Patrick Bärtschi, Head of Business Development at Bittrex Global, added:
“As an exchange founded upon pillars of security, innovation, and compliance, we are delighted to be further bolstering the security credentials of Bittrex Global through this partnership with Copper. As one of the world’s longest-standing regulated cryptocurrency exchanges, we acknowledge Copper’s shared commitment to our values and look forward to offering our institutional investors access to near-instant, off-exchange settlement, helping them build wealth.”
For media inquiries, please contact:
Bittrex Global: email@example.com
About Bittrex Global
Bittrex Global, as one of the most secure digital asset exchanges in the world, serves both retail and institutional clients, globally. Committed to helping users build wealth, Bittrex Global facilitates the purchase and trade of over 500 tokens. Through its use of cutting-edge technology, advanced security protocols, and a sophisticated elastic multi-stage wallet strategy the company provides a high-level experience for professional and novice customers alike. Bittrex Global is a key player in driving widespread adoption of secure and decentralized methods to building wealth while remaining compliant and adhering to the wide array of regulatory measures across the globe.
Bittrex Global is regulated by the Bermuda Monetary Authority and licensed as a Class F Digital Asset Business under the Bermuda Digital Asset Business Act 2018 to operate as a digital asset exchange, provide custodial wallet services and operate as a digital asset derivative exchange provider.
Learn more at https://global.bittrex.com
Since being founded in 2018, Copper, a SOC2 Type 2 certified company with a registration in Switzerland, has been setting the standard for institutional digital asset by offering custody and collateral management of digital assets. Underpinned by multi-award-winning technology, Copper has built the comprehensive and secure products and services required to safely custody and trade cryptocurrencies and other digital assets such as tokens and stablecoins. At the core of Copper’s infrastructure is ClearLoop, which enables clients to trade and settle in near real time across multiple exchanges, while mitigating counterparty risk and increasing capital efficiency.
Our settlements and clearing service is backed by our award winning custody technology
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