FTX Joins ClearLoop Instant Settlement Network from Copper.co

These managers will now be able to trade FTX’s products with their funds secure within Copper’s platform.
FTX Integrates With Copper.co's ClearLoop

Cryptocurrency exchange FTX Integrates With Copper.co’s ClearLoop unique, instant settlement trading network.  Copper.Co’s 300 institutional asset managers can now trade FTX’s products with their funds secured within Copper’s platform.

With over 1 million registered users, including institutional traders, FTX is the largest exchange yet to join the ClearLoop Network. Copper.Co offers custody, prime brokerage and settlement services across 250 digital assets and more than 40 exchanges.

ClearLoop allows institutional investors to hold their assets until just before a trade is executed. Clients are able to retain their trading capital in a cold wallet, while trades are initiated.

Sam Bankman-Fried, FTX’s founder and chief executive officer, said in an interview that “Using a custodian is something we’ve been hearing again and again. A lot of people are going to want to use some sort of custodial network”.  He also noted that they’re trying multiple things because “I don’t think anyone really knows for sure what is going to end up mattering the most for institutions.” He added that their collaboration with Copper.Co will help them “stay ahead in the pack”.

Dmitry Tokarev, Founder and CEO of Copper fascinating the collaboration said that: “Our collaboration with FTX now brings together an unrivaled institutional infrastructure solution with the largest crypto derivatives exchange globally.”

Also Read: FTX Makes Tom Brady And His Wife As Ambassadors

It also has been reported previously that Copper has received $ 25 million in an extension funding round led by Brevan Howard, the asset management firm co-founded by billionaire hedge fund manager Alan Howard. 

With the cryptocurrency space maturing gradually and significantly in the past few years, deals like this help facilitate connections between institutions and crypto products. Institutional investment is also growing with the adoption of cryptocurrency.

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