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Crypto Exchange Bitget Boosts Security and Efficiency with Copper’s ClearLoop Integration

Cryptocurrency exchange Bitget has made an announcement about its latest integration with Copper’s ClearLoop network. This strategic partnership introduces off-exchange settlement solutions aimed at enhancing the security of digital assets and optimizing capital efficiency for institutional traders.

With the integration of Copper’s ClearLoop, Bitget’s institutional clients now have the capability to securely store their digital assets in Copper’s MPC wallet. This arrangement facilitates settlements during their trading activities on the Bitget platform. This collaboration is designed to elevate the trading experience for institutional users, fostering a safer and more efficient environment for crypto trading.

Gracy Chen, the Managing Director of Bitget, emphasized the company’s commitment to delivering top-tier services to diverse clients through this integration with Copper. Chen noted the growing demand for heightened asset security and efficient trading solutions in the crypto market.

ClearLoop, at the core of this partnership, empowers institutional clients by allocating their capital across various ClearLoop-connected exchanges. This feature enables cross-exchange trading strategies without the usual hurdles of transfer and withdrawal costs. Additionally, assets are held in a dedicated ClearLoop account, offering protection from insolvency risks under English law.

Notably, Bitget recently underwent a rebranding process, transforming from BitKeep to Bitget Wallet after being acquired by Bitget. This rebrand brought not only a new name but also introduced innovative services such as Bitget Swap, catering to multi-chain trading.

Bitget Swap boasts an extensive array of trading pairs spanning 20 different chains. It provides a diverse range of trading nodes, including limit orders and leveraged contracts. This rebranding was accompanied by the unveiling of the Web 3 fund, a USD $100 million initiative aimed at fostering growth within the cryptocurrency sector.

Bitget has been eyeing global expansion and innovation, exemplified by its recent move to open an office in Dubai. The company seeks to tap into the burgeoning cryptocurrency market in the Middle East, particularly in countries like the United Arab Emirates and Bahrain. This expansion aligns with similar moves made by other prominent exchanges like Bybit and OKX, both of which recognized the potential and established their presence in Dubai.

Bitget continues to demonstrate its financial strength and transparency. The exchange’s total reserves have exceeded USD $1.44 billion, with a proof-of-reserves ratio of 223%, a figure regularly updated on a monthly basis.

In summary, Bitget’s integration with Copper’s ClearLoop network marks a significant step towards enhancing security and capital efficiency for institutional traders in the cryptocurrency space. This collaboration, combined with Bitget’s recent rebranding and global expansion efforts, showcases the exchange’s commitment to innovation and meeting the evolving needs of the market.

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