BitGo and Copper Launch Trading Solution with Off-Exchange Settlement on Deribit

BitGo and Copper have teamed up to introduce a new trading solution that enables off-exchange settlement on the derivatives exchange Deribit. The solution, which integrates BitGo Trust’s qualified custody offering with Copper’s ClearLoop settlement system, allows clients to trade both spot and derivatives while keeping their assets secure off-exchange.

This collaboration is part of BitGo’s broader strategy to offer institutional-grade services, which includes launching a global over-the-counter (OTC) trading desk for institutions. The OTC desk allows clients to trade, lend, and hedge across over 250 assets, including popular layer-1 tokens, altcoins, and meme coins.

The new partnership with Copper and Deribit aims to provide traders with a multi-custodial settlement solution that offers integrated liquidity, capital efficiency, and secure custody. Brett Reeves, head of Go Network, stated that the solution meets market demands by offering a seamless and secure trading experience with qualified custody and the ClearLoop settlement process.

Ben Lorente, director of strategic alliances at Copper, emphasized that this new solution marks an important step toward increased interoperability in the crypto market, helping to drive institutional adoption of cryptocurrencies.

BitGo, a leading crypto custodian, surpassed $100 billion in assets under custody earlier this year, further solidifying its position as an industry leader. The company, founded in 2013, offers a range of services including custody, trading, staking, and financing. BitGo is also reportedly considering an initial public offering (IPO).