Bitget Adds ClearLoop for Off-Exchange Settlement

Bitget’s integration
with Copper’s ClearLoop reportedly allows clients to securely store their
digital assets in Copper’s MPC wallet while facilitating settlements during
their trading activities on Bitget. Through the integration, Bitget aims to
elevate the overall trading experience for institutions, promoting a safer,
more efficient, and adaptable crypto trading landscape.

Gracy Chen, the Managing
Director of Bitget, said in an email sent to Finance Magnates: “Bitget’s
dedication to providing top-notch services to different clients is further
exemplified by this integration with Copper. We noticed the growing demand for
enhanced asset security and efficient trading solutions.”

ClearLoop delegates and
trade institutional clients’ capital across various ClearLoop-connected
exchanges. This functionality enables cross-exchange trading strategies without
the burden of transfer and withdrawal costs. Besides that, the assets are held
within a dedicated ClearLoop account, governed by English law, reportedly
providing protection from insolvency risks.

Meanwhile, about a week
ago, the popular cryptocurrency wallet BitKeep rebranded
itself as Bitget
Wallet. BitKeep embraced this change after being acquired by Bitget. The
rebranding not only brought a new name but introduced services like Bitget Swap for muti-chain trading.

Bitget Swap spans a wide
spectrum of trading pairs across 20 different chains and presents diverse
trading nodes, including limit orders and leveraged contracts. This transition
from BitKeep to Bitget wallet was accompanied by the announcement of a Web 3 fund, a USD
$100 million initiative aimed
at bolstering the cryptocurrency sector.

Bitget Eyes Global
Expansion and Innovation

In July, Bitget expanded
its global reach by
opening an office in Dubai. According to a statement by the company, this step
positions Bitget to tap into the cryptocurrency boom that the Middle East,
particularly countries like the United Arab Emirates (UAE) and Bahrain, is
witnessing.

Bitget is not alone in
its pursuit of the crypto market in the Middle East. Other prominent exchanges
like Bybit and OKX have also recognized the potential and established their
foothold in Dubai. Bybit secured a license to operate in digital assets, and
OKX obtained a Minimal Viable Product Preparatory license from the Dubai’s Virtual Asset Regulatory Authority (VARA).

In its recent July 13
announcement, Bitget revealed that its total reserves had exceeded USD $1.44
billion. Additionally, the exchange
Exchange

An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv

An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv
Read this Term revealed that its proof-of-reserves ratio had reached 223%. Bitget’s regular
updates on its proof-of-reserves ratio are conducted on a monthly basis.