Matrixport And Copper Join Forces To Streamline Prime Brokerage Services
- Crypto service provider Matrixport and crypto custodian Copper team up to enhance client access to prime brokerage offerings.
- Matrixport will integrate with Copper’s ClearLoop network to offer clients off-exchange settlement.
- Copper’s ClearLoop network allows investors to securely hold assets until just before a trade is executed by connecting multiple exchanges in one trading loop.
Crypto firm Matrixport has announced a partnership with Copper, a custodian service provider, to improve the range of prime brokerage offerings available to its clients.
According to the press release, the collaboration will enable Matrixport to integrate with Copper’s ClearLoop platform, providing institutional investors with off-exchange settlement opportunities. Using Copper’s network, users can hold onto their assets until just before a trade is executed and conduct trades through Matrixport sub-accounts connected to ClearLoop-connected exchanges. This process not only ensures clients are protected from counterparty risks but also promotes capital efficiency.
Dmitry Tokarev, the CEO of Copper, said that “This partnership demonstrates our shared commitment to building a more secure, transparent, and accessible financial market infrastructure in the digital asset industry.” Furthermore, Copper has implemented a dedicated account structure for ClearLoop to address potential insolvency risks, adding an extra layer of security to the partnership.
Matrixport recently closed a Series C funding round valued at $1 billion, raising $100 million in August 2021. This partnership with Copper reinforces Matrixport’s commitment to offering its clients the best possible service, with access to cutting-edge prime brokerage offerings that will help them achieve their financial goals.
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