FTX Deal Offers Institutions New Access to Crypto Markets

FTX has signed a deal with Copper.co which will allow it to gain new access to institutional funds. This cryptocurrency exchange has become the latest entity to join ClearLoop, Copper.co’s instant trading settlement infrastructure.

As a result of the integration, more than 300 of Copper’s institutional asset managers will gain access to FTX crypto offerings. This will allow them to trade options, cryptocurrency futures, and tokenized stocks with their funds secured within Copper’s platform.

Considering that its trading volume amounted to $600 billion in May 2021, FTX is the largest crypto exchange service yet to become a part of the ClearLoop network. According to the company’s statement, the exchange service has over one million registered users, including family offices and institutional traders.

“Since its inception one year ago, ClearLoop has led the institutional adoption of the crypto asset market. Our collaboration with FTX now brings together an unrivaled institutional infrastructure solution with one of the largest crypto derivatives exchange globally,” said Dmitry Tokarev, Copper’s founder, and CEO.

Copper now offers prime brokerage, digital asset custody, and settlement services across 250 digital assets and more than 40 exchanges.

“Since we founded FTX in 2019, we have been focused on being at the forefront of crypto trading. Our range of products, now available via Copper’s ClearLoop network, offers a best-in-class trading experience and the reduced level of counterparty risk required by many institutions in order to interact with crypto exchanges. Our collaboration with Copper will help us stay ahead of the pack,” said Sam Bankman-Fried, founder and chief executive of FTX.

With Bitfinex and Deribit also part of ClearLoop, Copper’s institutional clients now have the opportunity to move funds among the largest crypto derivatives, options, and spot exchanges in the market.

Institutional interest in the crypto space has stayed at its all-time high despite the recent price struggle. Multiple industry reports suggest that big-money players are pursuing exposure to digital currencies while anticipating another bull run before the end of 2021.