Matrixport and Copper’s ClearLoop are collaborating to provide institutional clients with off-exchange settlement services.
Crypto service provider Matrixport is partnering with crypto custodian Copper to improve its clients’ access to prime brokerage services, as announced in a press release.
In their collaboration, Matrixport will integrate with Copper’s ClearLoop to provide institutional clients with off-exchange settlement options. Through Copper’s ClearLoop network, investors can securely hold their assets until right before executing a trade by connecting multiple exchanges in a single trading loop.
According to the press release, this collaboration enables users to securely hold their assets within Copper’s infrastructure while trading on ClearLoop-connected exchanges using Matrixport sub-accounts. This approach offers protection against risks associated with exchanges and enhances capital efficiency for clients.
Dmitry Tokarev, the CEO of Copper, expressed that the partnership reflects their joint dedication to creating a safer, more transparent, and inclusive financial market infrastructure in the digital asset industry. To mitigate potential insolvency risks, Copper has established a dedicated account structure for ClearLoop. In August 2021, Matrixport successfully concluded a Series C funding round, raising $100 million and achieving a valuation of $1 billion.
This information is for general knowledge only and should not be considered as advice for investing or making financial decisions