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Bybit is now live and operational with Copper’s ClearLoop network that offers clients off-exchange settlement that not only mitigates exchange counterparty risk, but also provides the appropriate tools for capital efficiency management.
While assets remain under secure Multi-Party Computation custody at Copper, the integration with the ClearLoop network allows investors to trade on Bybit and settle off-chain, nearly instantly. This is crucial during times of volatility when blockchain transaction confirmation times increase substantially as traders look for opportunities.
Bybit now sits alongside major industry exchanges within the ClearLoop network that honor the pillars of good governance by being transparent, accountable and above all, safe.
The commitment to integrate this technology further solidifies Bybit’s longstanding focus on providing trading infrastructure that meets the demands of large institutional players. Bybit aims to be measured by being able to support traders with best-execution practices that institutions must adhere to.
A little over a year ago,security was the biggest concern for institutional investors. Fast forward to today, exchanges such as Bybit, OKX, Huobi, Gate, and others, are removing such fears by partnering with custodians like Copper that offer the right set of tools, namely, the ClearLoop network that has established a cleartrust structure under English law.
“Our aim is to ensure maximum trust and flexibility for our clients and provide the reassurance institutions and sophisticated investors demand and expect,” said Ben Zhou, co-founder and CEO at Bybit. “This partnership with Copper, is a perfect example of how we continue to listen to our customers, care about their concerns, improve our services and partnerships to provide even higher levels of excellence and commitment.”
Dmitry Tokarev, CEO at Copper, commented: “Recent events demonstrate that crypto market structure needs to evolve to mirror traditional finance and a key element of this is off-exchange settlement. We’re excited to join forces with Bybit, who share our commitment to asset security, user experience and to setting higher standards for the crypto industry to reach its full growth potential.”