PowerTrade Partnered With Copper To Hold Digital Assets Outside Of The Exchange

According to a statement released on Monday, PowerTrade, a cryptocurrency exchange that specializes in derivatives, has joined with custody provider Copper of London to provide custodial and settlement services to its institutional clients.

Customers can reduce counterparty risk by using the exchange’s ClearLoop technology to trade on the exchange while keeping assets off-exchange in independent custody.

Mario Gomez Lozada, founder and CEO of the exchange, stated:

“Copper’s ClearLoop brings institutional-grade clearing and settlement to PowerTrade in line with TradFi standards. Under this model PowerTrade does not custody our client’s assets, which will result in vastly improved controls when it comes to segregation of assets, settlements and funds management.”

In order to better serve institutional investors, the exchange announced that it would be implementing an RFQ (request for quote) format for the options market. This would be similar to a common practice in conventional finance.

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