Coinfomania: Where blockchain and cryptos live.

FTX Exchange Grows Institutional Userbase via Copper Partnership

The cryptocurrency industry has grown significantly as institutional investors become a major part of the space. Today, a new partnership between cryptocurrency exchange, FTX, and trading solutions provider, Copper, potentially unlocks the door to more institutional involvement with crypto.

The partnership will see FTX added to Copper’s trading network, ClearLoop. The trading network reportedly serves over 300 institutional asset managers who can now gain access to trade FTX products. Copper clients will gain access to FTX’s suite of products such as tokenized stocks, options, and derivatives while they have their funds securely stored on the ClearLoop platform.

As a digital asset custodian, ClearLoop will let customers trade their balance on FTX’s exchange while keeping the assets off the exchange and offline safely. This approach removes the counter-party often associated with a security breach on a crypto exchange and allows institutional investors to trade with more confidence.

With over 1 million registered users FTX will hope to add to its trading volume and market share by virtue of the new partnership with Copper. Futures and options trading platform, Deribit, and Bitfinex are the other crypto platforms already on Copper’s network.

FTX CEO Sam Bankman-Fried said,

Our range of products is now available via Copper’s ClearLoop network, offering a best-in-class trading experience and the reduced level of counterparty risk required by many institutions in order to interact with crypto exchanges.

FTX has been in the news often and for all the right reasons. From sealing multi-million partnership deals with sporting entities to making donations towards lowering the company’s carbon footprint.

In one of these developments, Coinfomania reported that FTX US entered a partnership deal with MBA team Miami HEAT, giving the exchange naming rights to the club’s sports arena. More recently, FTX partnered with celebrity couple Tom Brady and Giselle Bündchen, giving the duo an equity stake in the business.

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