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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.

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

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  • 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

Tanzeel Akhtar

Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.

Tanzeel Akhtar