Huobi and Copper have partnered with Copper to join the ClearLoop Network. The integration will make it possible for the institutional clients of both firms to delegate capital for trading on Huobi while their assets remain under Copper’s secure custody.
Huobi, the world’s 13th-largest digital assets trading venue, according to CoinMarketCap, has inked a memorandum of understanding (MoU) with Copper, a provider of cryptocurrency custody and trading solutions designed to reduce counterparty risks.
This will enable Huobi to join Copper’s ClearLoop Network. This solution facilitates seamless fund delegation to centralized exchanges without on-chain transactions.
Commenting on the partnership, Dmitry Tokarev, the CEO of Copper, buttressed the need for digital assets custody platforms to collaborate with exchanges towards effectively addressing counterparty risks and others.
“The growing number of exchanges joining ClearLoop is a testament to the willingness to solve these issues together,” he added. In January, crypto.news reported that Bybit had tapped Copper’s ClearLoop solution to secure custodial services for institutional investors.
Earlier this month, reports emerged that Huobi and Justin Sun’s Poloniex had formed a merger under the former’s brand.
Ogwu Osaemezu Emmanuel
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