Overview
Cryptocurrency custody providers BitGo and Copper have announced the merger of their respective settlement networks—Go Network (BitGo) and ClearLoop (Copper). This integration aims to streamline institutional access to major exchanges like Bybit, OKX, Bitget, and Deribit, among others.
Key Details
- Target Users: Initially focuses on non-U.S. clients, with U.S. expansion planned for the next phase.
- Functionality: Combines cold-storage security (BitGo) with real-time settlement (Copper).
- Exchanges Supported: Includes Gate.io, Bitfinex, Bitstamp, and Powertrade.
Why This Merger Matters
- Enhanced Liquidity Access: Users gain unified entry to 9+ trading platforms without fragmented balances.
- Risk Mitigation: Go Network’s offline storage complements ClearLoop’s institutional-grade settlement rails.
- Market Positioning: Targets institutional demand for compliant, multi-exchange crypto trading.
Matthew Ballensweig, BitGo’s Go Network lead, emphasized scalability: "This merger addresses global demand for efficient OTC settlement—starting abroad, then domestically."
FAQs
Q1: How does this merger benefit traders?
A: Traders can now access multiple exchanges via a single custody solution, reducing transfer delays and counterparty risks.
Q2: Which regions are prioritized?
A: Non-U.S. markets first, with U.S. rollout contingent on regulatory approvals.
Q3: Are assets safer post-merger?
A: Yes—BitGo’s insured cold storage and Copper’s segregated accounts combine for higher security.
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Future Outlook
The merger reflects growing institutional crypto adoption. Watch for:
- Regulatory updates as U.S. services launch.
- Exchange integrations beyond the current nine platforms.
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