Crypto Custodian Copper to Provide Off-Exchange Settlement to OKX Customers
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.
:format(jpg)/downloads.coindesk.com/arc/failsafe/user/1x1.png)
Will Canny is CoinDesk’s finance reporter.
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.
Crypto exchange OKX is joining Copper’s ClearLoop platform, allowing institutional clients of both companies to keep assets within the custody firm’s infrastructure while delegating them to trade on the exchange’s platform, according to a statement Monday.
The collaboration is useful for digital asset traders looking for alternative ways to hold assets while providing immediate access to OKX’s liquid markets and trading tools, Copper said.
“The continual inflow of institutional volume to Copper’s ClearLoop demonstrates the industry’s drive to meet high standards for asset security and trading,” Copper CEO Dmitry Tokarev said in the statement. “OKX is an essential trading venue for institutional investors, who will now be able to manage their assets efficiently thanks to the ClearLoop integration,” he added.
In January, rival exchange BitMart also said it was using Copper to provide clients with off-exchange settlement.
Copper said last month that up to 15% of its staff faced layoffs as it streamlines its business amid tough market conditions.
DISCLOSURE
Please note that our
privacy policy,
terms of use,
cookies,
and
do not sell my personal information
has been updated
.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a
strict set of editorial policies.
CoinDesk is an independent operating subsidiary of
Digital Currency Group,
which invests in
cryptocurrencies
and blockchain
startups.
As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of
stock appreciation rights,
which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG
.
Will Canny is CoinDesk’s finance reporter.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.
Will Canny is CoinDesk’s finance reporter.
