BitGo, Copper launch trading solution with off-exchange settlement on Deribit

BitGo and Copper have partnered to introduce a new trading model that enables off-exchange settlement on derivatives exchange Deribit.

The new solution, the crypto custody firms stated in a press release shared with crypto.news, allows clients to trade spot and derivatives while keeping their assets secured off-exchange. Users will benefit from BitGo Trust’s qualified custody offering, while trades will automatically settle via Copper’s ClearLoop solution.

BitGo has recently announced a series of initiatives, including the launch of a global over-the-counter trading desk for institutions. The desk allows clients to trade, lend, and hedge across more than 250 assets, including layer-1 tokens, altcoins, and meme coins.

The partnership with Copper and Deribit will provide traders with a multi-custodial settlement solution, offering integrated liquidity, capital efficiency, and qualified custody.

“Holding assets in qualified custody and settling through ClearLoop’s tried and tested settlement process delivers what the market has been asking for—a seamless and secure way to trade,” said Brett Reeves, head of Go Network.

According to Ben Lorente, director of strategic alliances at Copper, launching the new model in partnership with BitGo represents a significant step toward greater interoperability in the market. The solution is expected to support institutional adoption of cryptocurrency, Lorente added.

BitGo marked a major milestone earlier this year when it surpassed $100 billion in assets under custody, reinforcing its position as a leading custodian. In addition to custody services, the platform provides trading, staking, and financing solutions.

Founded in 2013, U.S.-based BitGo continues to expand its global footprint, catering to both institutional and retail customers. The company is reportedly considering an initial public offering.