Bitfinex Targets Institutions with Off-Exchange Settlement

Crypto exchange Bitfinex announced on Tuesday its partnership with infrastructure provider to integrate ClearLoop, an off-exchange settlement and clearing network.

With this integration, the crypto exchange is targeting institutional investors, who became very much interested in Bitcoin and other top cryptocurrencies. 

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“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,” Bitfinex CTO, Paolo Ardoino said.

Creating a Secure Crypto Trading Environment for Institutions

London-based offers a segregated custodian account, which allows institutional clients to trade digital assets on exchanges without moving their funds out of the cold wallets. This, according to the company, mitigating counterparty risk and reducing deposit and withdrawal waiting time.

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“We are proud to have Bitfinex as a key partner in ClearLoop, Copper’s instant off-exchange settlement and clearing network,” said Alex Ryvkin, CPO at Copper.

“As the efficiency of crypto-markets improves and regulatory standards evolve, the institutional investment space gets more and more competitive. To keep winning, asset managers will have to prioritize infrastructure that is able to facilitate the full spectrum of traditional strategies, and beyond, alleviating some of the most common risks associated with the crypto-space.”

Bitfinex, which faced a lot of backlash over an unsecured loan from stablecoin issuer Tether and offering services to US-based traders, settled with the New York prosecutors for an $18.5 million penalty.

Though established as a retail crypto trading venue, Bitfinex’s focus on institutional clients can also be seen with its collaboration with Zug-based infrastructure provider Market Synergy for offering institutional standard cryptocurrency connectivity, making it capable of handling high-frequency trades.


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