Bitcoin
$66,456.25-0.37%
Ethereum
$3,219.39+0.42%
Binance Coin
$609.36+1.15%
Solana
$156.61+0.35%
XRP
$0.55033865-1.73%
Dogecoin
$0.16043515-0.76%
Toncoin
$5.69-3.18%
Cardano
$0.50256514-3.47%
Shiba Inu
$0.00002679-0.82%
Avalanche
$38.46-2.39%
Wrapped Bitcoin
$66,556.14-0.41%
Bitcoin Cash
$507.15-3.84%
PlayIconNav
Crypto Prices CoinDesk 20 Index CoinDesk 20 Index
Countdown to Consensus 2024The largest and longest running event that covers all sides of Crypto and Web 3
35
DAYS
13
HR
36
MIN
52
SEC
Markets

Bitfinex Seeks to Attract Institutional Investors With Off-Exchange Settlement

The integration will let investors make deposits and withdrawals more quickly, as well as mitigate counterparty risk.

By Tanzeel Akhtar
AccessTimeIconMar 23, 2021 at 11:57 a.m. UTC
Updated Sep 14, 2021 at 12:30 p.m. UTC
tech-daily-ztYmIQecyH4-unsplash
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Crypto exchange Bitfinex is partnering with digital asset infrastructure provider Copper to attract institutional investors with its off-exchange settlement service.

  • Bitfinex said Tuesday it has integrated Copper’s “ClearLoop” settlement and clearing network, which removes the need for institutional customers to move digital tokens from a secure cold wallet into an exchange's hot wallet.
  • The integration of the network is intended to reduce the time it takes for investors to make deposits and withdraw funds, as well as mitigate counterparty risk by holding funds in Copper's segregated, institutional-grade custody accounts.
  • “Our platform’s relationship with Copper is driving uptake of digital token trading among hedge fund and asset managers worldwide, transforming how institutional customers engage with digital tokens, by providing market-leading custody and trading solutions,” said Paolo Ardoino, CTO at Bitfinex.
  • Bitfinex said it has collaborated with Zug-based infrastructure firm Market Synergy for “institutional standard cryptocurrency connectivity” and thus will be better able to serve those high-frequency trading firms looking for exposure to crypto.

Read more: NY AG’s $850M Probe of Bitfinex, Tether Ends in an $18.5M Settlement

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.