BitGo and Copper Join Forces to Enhance Crypto Custody and Trading

BitGo and Copper Merge Crypto Custody and Settlement Networks

BitGo and Copper merge crypto custody settlement networks.

Cryptocurrency safekeeping firms BitGo and Copper have decided to team up and revolutionize the world of crypto custody and trading. Think of them as Batman and Robin, but for digital assets. They are combining their respective in-custody settlement networks, creating a powerhouse that allows users to access trading on a multitude of major exchanges without ever having to move their precious assets from the comfort of cold storage. It’s like having your cake and eating it too, all while wearing a spiffy crypto cape.

Now, you may be wondering, which exchanges are part of this incredible network? Well, hold onto your seat, because we’re about to unleash a list of exchanges that will make your head spin faster than the price of Bitcoin. Drumroll, please…Bybit, OKX, Powertrade, Bitget, Gate.io, Deribit, BIT, Bitfinex, and Bitstamp! That’s right, all these exchanges will be at your fingertips, ready for your trading adventures.

But why did they decide to join forces, you ask? Matthew Ballensweig, the mastermind behind BitGo’s Go Network, decided to ask himself a profound question: “Do we want to win versus traditional finance?” And the answer, my friends, was a resounding “YES!” They wanted to create a true institutional-grade product that would leave Goldman and Fidelity in the dust. They weren’t going to wait for the big players to build the necessary infrastructure; they were going to do it themselves, like crypto superheroes!

Consolidation in the custody realm makes a lot of sense, especially after the collapse of firms like FTX. It’s like when a massive snowball starts rolling downhill, gaining momentum and devouring everything in its path. The only thing missing was scale, network effect, and regulated custody. But fear not, our dynamic duo has got it all covered.

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This collaboration is not just beneficial for the firms involved; it’s a win-win for the entire crypto community. Exchanges with limited integrations can now rejoice, as this partnership will streamline their operations and make them as efficient as the Flash on a caffeine high.

So, how did these two companies end up together? It’s like a match made in crypto heaven. BitGo, the qualified custodian in the U.S., recently obtained a crypto custody license from German financial regulator BaFin. On the other hand, Copper decided to focus on its ClearLoop settlement network, which caters to institutional firms, after closing its enterprise custody business. It’s like they both looked at the universe and whispered, “We complete each other.”

But wait, there’s more! The expansion of their settlement networks is just the beginning. The grand plan is to roll it out in the U.S. as well. Ballensweig revealed that they are already working with Bitstamp and are in discussions with other U.S.-based exchanges. This means that soon, you’ll have two avenues to explore – one for offshore adventures through Copper’s ClearLoop API, and one that taps directly into U.S. exchanges via BitGo. It’s like having two passports, each granting you access to different corners of the crypto world.

So, fellow crypto enthusiasts, buckle up and get ready for a wild ride. BitGo and Copper are here to save the day, providing us with a seamless and secure crypto custody and trading experience. It’s time to join forces, invest wisely, and watch our digital fortunes soar to new heights. Together, we’ll conquer the world of crypto, one Bitcoin at a time!

Disclaimer: No superheroes were harmed in the making of this collaboration.

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