Bitfinex Integrates Copper’s ClearLoop

Digital assets trading platform Bitfinex has integrated infrastructure provider Copper’s ClearLoop, an off-exchange clearing and settlement network.

The solution firms say ClearLoop removes the need for institutional customers to move digital tokens from a secure cold wallet into an exchange’s hot wallet, a process that can often take between 10 minutes to one hour. These delays are exacerbated when factoring in withdrawals and post-trade settlement. ClearLoop has the stated aim of eliminating these outdated processes by enabling off-exchange settlement that it says can be delivered in less than one second.

“Our platform’s relationship with Copper is driving uptake of digital token trading among hedge fund and asset managers worldwide, transforming how institutional customers engage with digital tokens, by providing market-leading custody and trading solutions,” says Paolo Ardoino, CTO at Bitfinex.

“As the efficiency of crypto-markets improves and regulatory standards evolve, the institutional investment space gets more and more competitive,” adds Alex Ryvkin, CPO at Copper. “To keep winning, asset managers will have to prioritise infrastructure that is able to facilitate the full spectrum of traditional strategies, and beyond, alleviating some of the most common risks associated with the crypto-space.”