FTX Integrates ClearLoop Instant Settlement Network From Copper.co
Copper.co, a provider of digital asset custody and trading solutions, this week announced cryptocurrency exchange FTX is joining ClearLoop, Copper’s instant settlement trading network. Copper’s client base of more than 300 institutional asset managers will now be able to trade FTX’s innovative range of products seamlessly with their funds safely secured within Copper’s platform.
ClearLoop minimizes counterparty risk by enabling asset managers to trade their balance on-exchange, while storing their assets securely offline and off-exchange.
The FTX product range includes crypto derivatives, options, volatility products, prediction markets, leveraged tokens and OTC trading. The exchange now has more than one million registered users, ranging from institutional traders to family offices and crypto-native investors.
FTX has grown exponentially since it was founded in 2019. In May this year, FTX saw $600 billion in monthly trading volume, making FTX the largest exchange to date to join the ClearLoop network. Copper clients can now instantly move funds between FTX, Deribit, the largest options exchange and Bitfinex, one of the largest spot exchanges.
“Since its inception one year ago, ClearLoop has led the institutional adoption of the cryptoasset market,” Copper founder and CEO Dmitry Tokarev said. “Our collaboration with FTX now brings together an unrivalled institutional infrastructure solution with one of the largest crypto derivatives exchange globally.”
“Since we founded FTX in 2019, we have been focused on being at the forefront of crypto trading,” founder and CEO Sam Bankman-Fried said. “Our range of products now available via Copper’s ClearLoop network, offers a best-in-class trading experience and the reduced level of counterparty risk required by many institutions in order to interact with crypto exchanges. Our collaboration with Copper will help us stay ahead of the pack.”