Matrixport, a leading cryptocurrency services provider, has joined forces with Copper, a renowned cryptocurrency custodian, to offer enhanced prime brokerage services to its clients. This strategic partnership involves the integration of Copper’s ClearLoop into Matrixport’s system, enabling secure off-exchange settlement, optimizing capital efficiency, and mitigating trade counterparty risks.
Through the integration of ClearLoop, Matrixport customers can securely store their assets in Copper’s robust infrastructure while seamlessly trading on ClearLoop-affiliated exchanges using Matrixport subaccounts. This streamlined process not only promotes capital efficiency but also safeguards clients from the potential risks associated with trade counterparties.
To further strengthen the security measures, Copper has implemented a dedicated account structure for ClearLoop, specifically designed to address potential insolvency risks. This ensures an added layer of protection for clients’ assets and instills confidence in the trading ecosystem.
Matrixport recently completed a successful Series C funding round in August 2021, securing an impressive $100 million and valuing the company at $1 billion. This substantial financial backing positions Matrixport to expand its service offerings and provide its clients with enhanced access to prime brokerage options through the integration with Copper’s ClearLoop network.
The collaboration between Matrixport and Copper represents a significant step forward in the evolution of prime brokerage services within the digital asset industry. By leveraging the strengths and expertise of both companies, clients can benefit from a secure and efficient trading experience, all while minimizing risks associated with trade counterparties.
With its solid financial foundation and commitment to innovation, Matrixport is well-positioned for continued growth and success in the digital asset space. The partnership with Copper’s ClearLoop network strengthens Matrixport’s value proposition and reinforces its position as a leading player in the cryptocurrency services sector.
In conclusion, the collaboration between Matrixport and Copper brings forth exciting developments in the realm of prime brokerage services. By integrating Copper’s ClearLoop into its system, Matrixport enhances capital efficiency and safeguards clients from trade counterparty risks. With the recent funding round and a focus on innovation, Matrixport is poised to expand its services and provide unparalleled prime brokerage options to its growing client base.
Compiled by Coinbold