Bitget Launches Open Custody Network, Giving Institutions Choice in Custody and Access to Markets

In traditional financial markets, trade execution and asset custody have long been delivered by different types of service providers. Institutions can decide who safeguards their assets, where they trade, and how settlement is completed, based on their compliance policies, risk appetite, operating model, and asset-management requirements.

As digital asset markets mature, institutions are asking for similar infrastructure. A survey conducted by Coinbase and EY-Parthenon of 351 institutions found that 46% of respondents identified improved institutional-grade infrastructure as a key driver of increased crypto allocations. Custody, settlement, and risk controls have become important considerations for institutions seeking to deepen their participation in digital assets.

For trading venues, liquidity and product access alone are no longer enough. Serving diverse pools of institutional capital also requires compatibility with clients’ existing custody relationships and operating frameworks. That is why Bitget has launched the Bitget Open Custody Network, an open-access framework for institutional clients, custody partners, and asset partners.

Its core principle is simple:

Your custody, your assets, your choice. Bitget brings the market.

Through the Bitget Open Custody Network, eligible institutions can access Bitget’s trading, liquidity, and account infrastructure while maintaining their preferred third-party custody arrangements. For institutions seeking to separate custody from execution, retain existing custody relationships, or adopt a structure aligned with their compliance and operational requirements, the network offers more choice, clearer collateral and account-management workflows, and a more flexible institutional trading experience.

Why Are Institutions Reassessing Digital Asset Custody and Trade Execution?

In traditional markets, custody, execution, clearing, and risk management are typically delivered by different parties. As digital assets become more institutionalized, more firms are looking for a comparable operating model—one that maintains trading efficiency while allowing them to determine their custody arrangements based on investment policy, organizational structure, and risk appetite.

This demand is generally being driven by several considerations.

1. Growing Demand to Separate Custody From Execution

Some institutions prefer not to hold all trading assets directly on a single trading venue. Instead, they may choose to keep collateral with an independent custodian and participate in trading through credit, delegation, or settlement arrangements.

This model does not eliminate trading, market, custody, or settlement risk. It can, however, enable institutions to make more tailored decisions about how assets are held, how counterparty exposure is managed, and how frequently settlement takes place.

2. Institutions Already Have Established Custody and Approval Workflows

Many hedge funds, asset managers, market makers, and corporate treasury teams have already built wallet permissions, approval processes, operational controls, and compliance frameworks around providers such as Copper, Fireblocks, or regulated bank custodians.

For these institutions, the preferred route is not necessarily to replace existing infrastructure. It is to access new sources of trading liquidity while retaining their established custody and operational workflows.

3. Different Institutions Need Different Settlement and Collateral Models

Trading strategies, capital turnover, and risk-management frameworks vary widely among institutions. High-frequency market makers and quantitative firms may place greater value on collateral efficiency across venues and more frequent settlement. Asset managers and family offices may instead prioritize regulated custody, bank-grade safeguarding, or service availability in particular jurisdictions.

A single custody or settlement model cannot meet every institutional requirement. An open partner network allows clients to select the route that best fits their circumstances.

What Is the Bitget Open Custody Network?

The Bitget Open Custody Network is an extension of Bitget’s institutional infrastructure. It connects clients’ chosen custody and asset partners to Bitget’s trading and liquidity ecosystem, allowing institutions to apply for access to spot, spot margin, and futures trading without having to fully restructure their existing asset arrangements. Available products and services depend on the selected custody solution, client eligibility, and final agreements.

The Bitget Open Custody Network currently includes the following partners and solutions:

• Copper ClearLoop

• Fireblocks Off Exchange

• Cactus Custody Oasis

• Bitfire PrimeMirror

• OSL MirrorEX

• Sygnum Protect

Copper, Fireblocks, Cactus Custody, Bitfire, and OSL provide third-party custody and Off-Exchange Settlement (OES) routes for Bitget. Sygnum Protect has completed onboarding as a network partner and provides a custody, pledge, and lending structure for institutions that require bank-grade custody.

What Is Off-Exchange Settlement (OES)?

Off-Exchange Settlement (OES) is an institutional service model in which eligible client collateral remains with a third-party custodian or within a designated account structure, while the client receives corresponding trading credit and settles profit and loss according to agreed rules.

In a typical OES model:

1. The client holds eligible assets with a third-party custodian or in a designated collateral account.

2. Bitget provides corresponding trading credit, subject to the selected custody model and client onboarding requirements.

3. The client trades on Bitget.

4. Profit and loss are settled on-chain or off-chain between Bitget and the custodian’s account structure under a predefined settlement mechanism.

Bitget Open Custody Network: Partner Solutions Compared

*Supported trading, eligible assets, credit arrangements, account functionality, and service availability depend on client eligibility, jurisdiction, risk assessment, and final agreements.

How to Choose the Right Institutional Digital Asset Custody Solution

Institutions evaluating third-party custody or OES should look beyond supported assets and settlement frequency. A suitable solution should also reflect existing custody relationships, trading strategy, asset profile, operating capacity, and risk policy.

If You Already Use Copper and Need Multi-Venue Trading

Copper ClearLoop is designed for institutions seeking to connect to multiple trading venues through a single custody relationship. Its off-chain settlement model and configurable four-hour settlement schedule can suit market makers, quantitative trading teams, and active institutional clients that prioritize collateral efficiency, cross-venue operations, and trading continuity.

If You Want to Retain Fireblocks Wallet and Approval Workflows

Fireblocks Off Exchange is designed for institutions that already use Fireblocks infrastructure. Clients can manage collateral through a dedicated Collateral Vault Account while retaining their existing MPC setup, wallet policies, and approval workflows.

This route uses on-chain net settlement, with gas fees borne by the client. For loss settlement, clients generally have a two-hour signing window. If the client does not sign within that period, Bitget’s Collateral Signer may co-sign. If a client rejects a settlement, the process may enter a dispute window.

If You Prioritize Off-Chain Settlement Within a Custody Structure

Both Cactus Custody Oasis and Bitfire PrimeMirror provide off-chain settlement routes within their respective custody-account structures, making them relevant for institutions seeking to reduce on-chain operational requirements during settlement.

A key difference is settlement timing:

• Cactus Custody Oasis: Every eight hours

• Bitfire PrimeMirror: Daily at 10:00 UTC+8

Cactus Custody Oasis may be better suited to institutions trading more actively and seeking more frequent settlement, while Bitfire PrimeMirror may suit firms operating on an end-of-day management cycle.

If You Prioritize Regulated Custody and Eligible Profit Withdrawals

OSL MirrorEX is designed for institutions that value Hong Kong’s regulated digital asset custody framework. Its settlement model has a distinct feature: settlement is triggered immediately when losses reach or exceed 15% of total custodial assets. Subject to applicable requirements and controls, eligible profits may be withdrawn from the Bitget account.

This is not the same as periodic settlement. Institutions should independently assess whether a loss-triggered settlement model aligns with their position management, risk budget, collateral buffers, and liquidity-management requirements.

If Your Investment Policy Requires Bank-Grade Custody

Sygnum Protect is intended for institutions with specific requirements for bank custody, regulated financial-institution service standards, or a traditional financial-services operating framework. Its structure differs from conventional OES: assets are held in a Sygnum Protect Portfolio and support trading through a pledge-and-loan mechanism.

Sygnum is a FINMA-supervised digital asset bank with a Swiss banking licence. Trading scope, asset-specific LTVs, fees, account structure, and risk parameters should be confirmed during client onboarding. As collateral changes and top-ups may involve manual processes, institutions should plan adequate collateral buffers and liquidity in advance.

What Should Institutions Know Before Connecting to the Bitget Open Custody Network?

Master and Sub-Account Structure

Across most live OES routes, the Bitget master account is typically linked to the custody arrangement. Sub-accounts may trade in accordance with applicable rules, with PL aggregated and settled at the master-account level. Sub-accounts generally cannot independently bind, delegate, or undelegate custody assets.

Institutions managing multiple strategies, teams, or account-permission structures should confirm master-account, sub-account, trading-permission, and settlement-aggregation arrangements with the Bitget Institutional team before onboarding.

Deposit and Withdrawal Rules

Under certain custody models, standard on-chain deposits and withdrawals through the Bitget account may be restricted or disabled once custody mode is activated, helping maintain consistency across collateral, credit, and settlement workflows. Requirements differ by solution.

OSL is an exception among the live routes: deposits are supported, and eligible profits may be withdrawn, subject to applicable controls.

Credit and Collateral Are Not Always Fixed at 1:1

Copper, Cactus Custody, Bitfire, and OSL offer 1:1 trading credit against eligible delegated balances. Fireblocks credit is determined during onboarding and may be below 1:1. Sygnum Protect uses an asset-specific LTV-based custody, pledge, and lending structure rather than a conventional mirrored-credit model.

During onboarding, institutions should confirm:

• Eligible collateral assets;

• Asset haircuts or credit ratios;

• Risk thresholds and collateral top-up requirements;

• Settlement frequency and process;

• Applicable fees, gas fees, and financing costs; and

• Regional restrictions and account permissions.

Your Custody Choice. Bitget’s Market Access.

The Bitget Open Custody Network is not designed to impose a single model for institutional digital asset custody. It is designed to give different types of institutions more viable routes to market.

Whether an institution prioritizes multi-venue collateral efficiency, existing wallet workflows, off-chain settlement, Hong Kong-regulated custody, or bank-grade asset custody, Bitget aims to connect the custody infrastructure clients choose with Bitget’s trading and liquidity capabilities.

To learn more about eligibility, supported assets, account structures, and suitable solutions, please contact your dedicated Bitget Institutional representative.