What to Know:

• BitGo and Copper have collaborated for years to integrate major exchanges allowing trading while keeping assets secured in a regulated custody environment.
• Clients utilizing the Go Network can now trade spot and derivatives on Deribit, with assets maintained off-exchange in trusted custody and settled using Copper ClearLoop and BitGo’s Go Network.

Qualified cryptocurrency custodian BitGo and the ClearLoop settlement system provider Copper have enabled off-exchange settlement for traders on the options exchange Deribit. Clients of both firms can now conduct spot and derivatives trading on Deribit while ensuring their assets are secured off-exchange with BitGo Trust’s qualified custody.

In a post-FTX ecosystem, traders are keen on minimizing risks associated with keeping assets on exchanges. The integration of BitGo and Copper networks facilitates instantaneous settlement between clients. Brett Reeves states, “We can do this DvP settlement from cold storage, and there’s no fees for it.” He further describes how assets, retained in regulated custody at BitGo, are allocated according to preset settlement times, transferring them between BitGo and Copper’s framework as necessary.

Luuk Strijers, CEO of Deribit, remarked, “The synergies between our companies will unlock new opportunities for investors and will completely change the landscape of trading.”