Cryptocurrency exchange FTX is joining ClearLoop, Copper’s unique instant settlement trading network. Copper’s client base of over 300 institutional asset managers will now be able to trade FTX’s innovative range of products seamlessly with their funds safely secured within Copper’s platform.
ClearLoop is the only digital asset custodian that minimises counterparty risk by enabling asset managers to trade their balance on-exchange, while storing their assets securely offline and off-exchange.
The FTX product range includes crypto derivatives, options, volatility products, prediction markets, leveraged tokens and OTC trading. The exchange now has over 1 million registered users, ranging from institutional traders to family offices and crypto-native investors.
FTX has grown exponentially since it was founded in 2019. In May this year, FTX saw USD600 billion in monthly trading volume, making FTX the largest exchange to date to join the Clearloop network. Copper clients can now instantly move funds between FTX, Deribit, the largest options exchange and Bitfinex, one of the largest spot exchanges.
Dmitry Tokarev, Founder and CEO of Copper, says: “Since its inception one year ago, ClearLoop has led the institutional adoption of the cryptoasset market. Our collaboration with FTX now brings together an unrivalled institutional infrastructure solution with the largest crypto derivatives exchange globally.”
Sam Bankman-Fried, Founder and CEO of FTX, says: “Since we founded FTX in 2019, we have been focused on being at the forefront of crypto trading. Our range of products now available via Copper’s ClearLoop network, offers a best-in-class trading experience and the reduced level of counterparty risk required by many institutions in order to interact with crypto exchanges. Our collaboration with Copper will help us stay ahead of the pack.”
