Bitget has launched a custody network letting institutions trade on the exchange while outside custodians such as Copper and Fireblocks hold their assets.
Bitget Custody Partners
The exchange unveiled the Bitget Open Custody Network in a blog post Thursday, saying eligible clients can apply for spot, spot margin and futures trading. Five custodians are already live. Besides Copper and Fireblocks, they are Cactus Custody, Bitfire and OSL, while Swiss bank Sygnum has completed onboarding under a pledge-and-lending model.
Under off-exchange settlement, used by the live routes, assets stay with the custodian while Bitget extends trading credit and settles profit and loss under set rules. All six partners accept Bitcoin (BTC), Ether (ETH), Tether (USDT) and USD Coin (USDC).
Also Read: France Could Tax Stablecoin Swaps At 31.4%, Chainalysis Warns Of Offshore Exodus
Institutional Crypto Demand
Bitget cited a Coinbase and EY-Parthenon survey of 351 institutions, in which 46% named better institutional-grade infrastructure as a key driver of larger crypto allocations. But the exchange said the setup does not remove trading, market, custody or settlement risk. Terms differ, too, as Fireblocks credit may fall below 1:1 and OSL settles only when losses reach 15% of custodial assets.
Copper launched its ClearLoop service in 2020 and says onboarding sped up after the 2022 hacks and the collapse of FTX. When Bybit lost about $1.4 billion from a hot wallet in February 2025, funds in Fireblocks off-exchange vaults stayed protected, an industry analysis found.
Read Next: MNX Opens Pre-IPO Bets On OpenAI And Anthropic Valuations, No Shares Required
