[CLSTR]
API
< Back to all clusters
[TECHNOLOGY] · Seychelles · 12 sources

started · updated

Bitget launches Open Custody Network to separate trading from asset custody

Bitget Open Custody Network cryptocurrency trading digital asset custody asset mirroring

Bitget has announced the launch of its Open Custody Network (OCN), a new infrastructure designed to decouple cryptocurrency trading from asset custody. The network connects banks and institutional-grade custodians with Bitget’s trading infrastructure, allowing eligible users to trade on spot, margin, and futures markets without transferring their underlying assets directly to the exchange.

By utilizing an asset-mirroring system, the OCN enables market makers, asset managers, and institutional traders to maintain their assets with independent third-party providers while still accessing Bitget’s liquidity. This model aims to mitigate custody concentration risk, a concern highlighted by previous industry collapses such as FTX.

Bitget CEO Gracy Chen stated that the initiative challenges the traditional requirement for users to place assets in an exchange’s custody to access trading capabilities. The network builds upon Bitget’s existing arrangements with providers including Copper, Cactus Custody, Fireblocks, OSL, and Sygnum Bank.

Entities

Bitget · Copper · Fireblocks · Gracy Chen · Open Custody Network · Seychelles · Sygnum Bank

Claims

What the coverage asserts, and how many sources carry each claim.

  • [● 3 SOURCES] Users can keep underlying assets with independent banks and institutional custodians while trading. crypto.news · coinedition.com
  • [● 3 SOURCES] Bitget launched the Open Custody Network (OCN). crypto.news · coinedition.com
  • [● 3 SOURCES] The OCN allows users to trade spot, margin, and futures markets. crypto.news · coinedition.com
  • [● 3 SOURCES] The network uses an asset mirroring system to connect external custody providers to Bitget’s trading infrastructure. crypto.news · coinedition.com
  • [● 3 SOURCES] The service is designed for market makers, asset managers, and other institutional traders. crypto.news · coinedition.com
  • [● 2 SOURCES] Bitget has existing custody arrangements with Copper, Cactus Custody, Fireblocks, OSL, and Sygnum Bank. crypto.news
  • [○ 1 SOURCE] CEO Gracy Chen said users should not have to choose between custody and trading. coinedition.com

Sources

Bitget Launches Open Custody Network, Allowing Users to Trade Without Holding Assets on Exchange [coinedition.com]
Bitget launches Open Custody Network for trading without exchange custody [crypto.news]
Bitget Introduces Open Custody Network, Redefining the Relationship Between Custody and Trading [www.crypto-reporter.com]
New Open Custody Network Lets Traders Bypass Exchange Asset Control, Bitget Says [thecoinrise.com]
Bitget Introduces Open Custody Network, Redefining the Relationship Between Custody and Trading [mozambiquetribune.com]
Bitget Lança Open Custody Network, Redefinindo a Relação Entre Custódia e Negociação [revistaempreende.com.br]
Bitget Lança Open Custody Network, Redefinindo a Relação Entre Custódia e Negociação [vgnews.com.br]
Bitget Introduces Open Custody Network, Redefining the Relationship Between Custody and Trading [businessobserver.pk]
Bitget Lança Open Custody Network, Redefinindo a Relação Entre Custódia e Negociação - DINO [noticias.dino.com.br]
Bitget Lança Open Custody Network, Redefinindo a Relação Entre Custódia e Negociação [portal.comunique-se.com.br]
Bitget Introduces Open Custody Network, Redefining the Relationship Between Custody and Trading [www.sierraleonepress.com]
Bitget Introduces Open Custody Network, Redefining the Relationship Between Custody and Trading | CryptoCompass [cryptocompass.com]