Bitstamp and Copper ClearLoop Network Integrate to Offer Improved Asset Security
Bitstamp, the prominent crypto exchange, has declared a collaboration with Copper (a custody-providing platform). On the 26th of April, the crypto exchange disclosed the collaboration and labelled it as an institutional gateway for crypto-asset investment. With this partnership, Bitstamp is integrating the ClearLoop network of Copper.
Bitstamp Integrates ClearLoop of Copper to Provide Institutional Clients with Enhanced Asset Security
As a result of this collaboration, institutional consumers will be enabled to trade with the crypto exchange without any requirement to shift assets from the custodial environment of Copper. Both the collaborating platforms have been mutually operating since 2021. The crypto exchange has been cooperating with Copper to get digital assets across diverse 3rd-party custodians.
This partnership is considered to be a remarkable step for both entities. At the moment, the providers of market infrastructure will join forces to pay great attention to risk management while keeping in view the recent events. In addition to this, the collaboration also shows the commitment of Bitstamp to its clients who are focusing on asset security. With the maturity being witnessed in the market, the crypto exchange keeps on growing its offering for the provision of safeguarding options to clients.
Bitstamp does that via its integration with ClearLoop of Copper and other such exchange solutions. The declaration is witnessed at a point when the crypto exchange has remained successful in maintaining its status among the top-rated centralized exchange platforms. Up till now, the Bitstamp ecosystem has obtained combined licenses as well as registrations in fifty-one countries. This categorized the crypto exchange among the most compliant and secure trading platforms operating within the industry.
Bitstamp’s Global chief executive officer Jean-Baptistte Graftieaux stated that the collaboration with Copper displays the platform’s commitment to facilitating institutional consumers. As per the executive, this also increases the company’s confidence in the resilient architecture offered by Copper. Graftieaux mentioned added that the firm also knows about the attention given by institutional clients to the regulation, and compliance of the crypto exchange.
Exchanges and Custodians Require Working Together to Eliminate Exchange-Counterparty Risk, Says Copper CEO
Copper’s CEO Dmitry Tokarev stated that permitting consumers on exchange companies straight from Copper custody counts as a significant move in institutionalizing the markets of digital assets. Tokarev emphasized that there is a great requirement for the exchanges and custodians to work in harmony to efficiently deal with chief risks like exchange-counterparty risk.
