Partnership provides institutional prime brokerage clients secure access to leading exchanges with off-exchange capital optimisation settlement features
SINGAPORE, May 16, 2023 /PRNewswire/ — Matrixport, one of the world’s largest and trusted digital assets financial services ecosystems, today announced a flagship partnership with Copper.co, a leading institutional digital asset custody provider, integrating its pioneering off-exchange collateral management and settlement solution, ClearLoop. This collaboration significantly enhances Matrixport’s prime brokerage offerings by providing increased security, capital efficiency, and access to a wide range of ClearLoop-connected exchanges.
The ClearLoop integration allows institutional users to keep their assets securely within Copper’s infrastructure while simultaneously trading on ClearLoop-connected exchanges through Matrixport sub-accounts. This streamlined process not only ensures clients are protected from exchange counterparty risks but also promotes capital efficiency.
Daniel Egloff, Head of Prime Brokerage at Matrixport, said: “Effectively managing exchange counterparty risk is a priority among institutions. Copper.co’s solution delivers unfettered access to an extensive list of high-volume exchanges, while minimising exchange counterparty exposure. Clearloop empowers us to offer our clients a more secure and capital efficient way to trade and invest in digital assets. As a company that is fully committed to robust operational risk management, we are excited about integrating best-in class solutions for our prime brokerage clients.”
Dmitry Tokarev, CEO at Copper, commented: “We are thrilled to collaborate with Matrixport, providing their clients with secure access to a growing number of ClearLoop connected exchanges. This partnership demonstrates our shared commitment to building a more secure, transparent, and accessible financial market infrastructure in the digital asset industry. Copper has implemented a dedicated account structure for ClearLoop to address potential insolvency risks. Clients and exchanges are granted a security interest over their assets within the trust, favouring each other. This includes our innovative bankruptcy remote legal framework where in the event of insolvency, the digital assets held in trust would not be part of Copper’s insolvent estate. Copper’s financial risk team monitors the collateral round the clock, providing an additional layer of assurance.”
Matrixport is one of the world’s largest and most trusted digital assets financial services ecosystem. The company’s services include prime brokerage, Cactus Custody™, spot OTC, fixed income, investment products, lending as well as asset management. Matrixport serves individuals as well as over 800 institutions across Asia and Europe.
Matrixport Prime Brokerage provides access to prominent exchanges with first-rate fee tiers, a broad range of tokens for leveraged borrowing, and a comprehensive online platform to manage the entire lifecycle of your lending activities at a competitive rate.
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Since being founded in 2018, Copper has been setting the standard for institutional digital assets by offering custody and collateral management of digital assets. Underpinned by multi-award-winning technology, Copper has built the comprehensive and secure products and services required to safely custody and trade cryptocurrencies and other digital assets such as tokens and stablecoins. At the core of Copper’s infrastructure is ClearLoop, which enables clients to trade and settle in near real time across multiple exchanges, while mitigating counterparty risk and increasing capital efficiency. Copper is SOC2 Type 2 certified and licensed in Switzerland.
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