FTX Integrates Copper Tool Eyeing Institutional Market
Share this article
The move will allow institutions to trade FTX products through Copper’s platform without needing to deposit their assets to a hot wallet to trade.
FTX Move Paves Way for Institutional Adoption
FTX, one of the world’s fastest-growing cryptocurrency exchanges, has started using Copper’s ClearLoop trading tool.
The move will help FTX attract institutional funds by allowing them to make trades through a custodial service without depositing to an exchange.
Copper, which describes itself as “the institutional gateway to digital asset investing,” has over 300 institutional asset managers as clients. It offers custody, brokerage, and settlement services for a range of leading crypto assets and over 40 exchanges.
With FTX integrating ClearLoop, Copper’s institutional clients will be able to trade the exchange’s products without using a hot wallet on an exchange. It lets users hold onto their capital until a trade is executed, which helps lower the risk to a level that institutions require to participate in markets.
“Using a custodian is something we’ve been hearing again and again,” Sam Bankman-Fried, founder and CEO of FTX, told Bloomberg in reference to institutions trading cryptocurrencies. He added that “a lot of people are going to want to use some sort of custodial network.”
Institutional crypto adoption has been discussed across the space for years. It’s become more of a reality in recent months, with firms like MicroStrategy, Square, and Tesla announcing major Bitcoin investments. Leading investment banks such as Goldman Sachs, JPMorgan, and BNY Mellon have begun offering Bitcoin products, while billionaire investors like Ray Dalio and Paul Tudor Jones have endorsed cryptocurrencies.
A combination of growing ESG concerns and regulatory fears have dampened spirits for Bitcoin and other crypto assets in recent weeks, causing market prices to tumble. Still, while institutions may be holding off from diving into the space amid the cooldown, integrations like this one should help bridge the gap between institutions and crypto products.
Share this article
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
See full terms and conditions.
FTX Exchange Reportedly Looking to Buy into Stocktwits
FTX is considering investing in stock trading app Stocktwits, according to sources quoted in Decrypt. FTX Eyes Stocktwits Deal Leading crypto exchange FTX is in talks with the social investing…
Tom Brady, Gisele Bündchen Back FTX Exchange
American football superstar Tom Brady and his supermodel partner Gisele Bündchen have taken an equity stake in the cryptocurrency exchange FTX. FTX Targeting Explosive Growth Tom Brady and Gisele Bündchen…
How to Trade Using the Inverse Head and Shoulders Pattern
In stock or cryptocurrency trading, you may have heard of the term “inverse head and shoulders.” Also known as the “head and shoulders bottom” formation, the inverse head and shoulders chart pattern can…
FTX Is Sponsoring and Renaming an E-Sports Team
Crypto exchange FTX has secured a deal in which it will sponsor and rename a popular e-sports team, according to the New York Times. $210 Million Over Ten Years FTX…