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

Trade execution and asset custody have mostly been delivered by different types of service providers in the traditional markets.

Institutions decide which provider to choose to safeguard their assets and which one to ask for the trading service. They also decide how settlements are completed. All these depend on the institutions’ risk appetite, compliance policies, operating model, and asset-management requirements.

Institutions are asking for a similar infrastructure in the digital asset market domain. Coinbase and EY-Parthenon surveyed 351 institutions and found that 46% of them think of institutional-grade infrastructure as a key driver in deciding whether to allocate more capital to crypto. For institutions that want deeper participation in digital assets, risk controls have become an important factor to consider.

Liquidity and product access used to be enough when considering which trading venues to pick. Not anymore. When it comes to serving a diverse pool of institutional capital, platforms should be compatible with clients’ existing custody relationships and operating frameworks.

Realizing this need, Bitget has launched the Bitget Open Custody Network. It is an open-access framework for institutional clients.

It has a single core principle:

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

Thanks to the Bitget Open Custody Network, eligible institutions can now access Bitget’s trading, liquidity, and account infrastructure without stepping back from the third-party custody arrangements they prefer.

For institutions that are looking to separate custody from execution while maintaining existing custody relationships, or to adopt a structure that matches their compliance and operational requirements, the new network brings in more choice. The collateral provided is clearer and account management workflows are more flexible.

Why Are Institutions Reassessing Digital Asset Custody and Trade Execution?

Traditional markets offer separate parties that handle custody, execution, clearing, and risk management.

Firms are looking for the same type of ecosystem since digital assets are becoming more institutionalized. They want one that maintains trading efficiency while allowing them to pick their own custody arrangement based on their risk appetite and organizational structure.

Here are the different considerations that are driving this demand:

1. Growing Demand to Separate Custody From Execution

Some institutions don’t want to hold all trading assets on a single trading venue. They may choose to keep collateral with an independent custodian, and when it comes to trading, they may want to do it through credit, delegation, or settlement arrangements.

With this model, risks associated with trading or settlement don’t go away. But it does let institutions decide on 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 institutions, be it hedge funds, asset managers, market makers, or corporate treasury teams, have already built approval processes, compliance frameworks, wallet permissions, and operational controls around providers like Copper, Fireblocks, or regulated bank custodians.

These institutions don’t want to replace existing infrastructure. What they want instead is to access new sources of trading liquidity while maintaining the custody and workflow that they have already established.

3. Different Institutions Need Different Settlement and Collateral Models

Different institutions have different approaches to trading strategies, capital turnover and risk-management frameworks. High-frequency market makers and quantitative firms want better collateral efficiency across venues. Asset managers and family offices want regulated custody, bank-grade safeguarding, or service availability in particular jurisdictions.

Since there is not a single custody or settlement model that can meet every single one of these requirements, with an open network partner, clients get to choose the best route according to what their institution wants.

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 should choose digital asset custody solutions based on whether the solutions provider aligns with their existing system. Can they maintain their existing custody relationships? Can they match their trading process? Can the solution support their asset profile?

If You Already Use Copper and Need Multi-Venue Trading

If an institution wants one custody relationship but multiple trading venues, Copper ClearLoop is good choice. Thanks to its off-chain settlement model and modifiable four-hour settlement schedule for institutions, institutions from market makers and quantitative trading teams to active institutional clients find it favorable.

Clients that are looking for collateral efficiency, trading continuity and cross-venue operations may find this solution suitable.

If You Want to Retain Fireblocks Wallet and Approval Workflows

Clients that already use Fireblocks infrastructure should pick Fireblocks Off Exchange. With it, clients can manage collateral through a dedicated Collateral Vault Account. And they don’t have to change their existing MPC setup, approval workflows, and wallet policies.

This route uses on-chain settlement, with clients bearing the gas fees. Clients have a two-hour window to settle a loss. If the window is missed, Bitget’s Collateral Signer may co-sign. And if the client rejects the settlement, the process may enter the dispute window.

If You Prioritize Off-Chain Settlement Within a Custody Structure

If clients want off-chain settlement within a custody structure, they can pick between Cactus Custody Oasis and Bitfire PrimeMirror. They both offer off-chain settlement routes within their respective custody-account structures. The only difference between them is settlement timing:

• Cactus Custody Oasis settles every eight hours
• Bitfire PrimeMirror settles daily at 10:00 UTC+8

For institutions that trade more actively, Cactus Custody Oasis is better. But for firms that operate on end-of-day management cycles, Bitfire PrimeMirror is more suitable.

If You Prioritize Regulated Custody and Eligible Profit Withdrawals

Institutions that value Hong Kong’s regulated digital asset custody framework should choose OSL MirrorEX.

Its settlement model is unique. It has a distinct feature: if the loss is more than 15% of total custodial assets, the settlement triggers immediately. However, depending on applicable requirements and controls, eligible profits may be withdrawn from the Bitget account.

It is different from periodic settlement. Therefore, institutions should first assess if loss-triggered settlement fits their requirements.

If Your Investment Policy Requires Bank-Grade Custody

For firms needing bank-grade custody, Sygnum Protect is suitable.

It adheres to regulated financial-institution service standards, while having a traditional financial-services operating framework.

Structurally, it is different from a traditional OES. Assets are stored inside Sygnum Protect Portfolio and support trading through a pledge-and-loan mechanism.

Sygnum is a digital asset bank with a Swiss banking license and is supervised by FINMA. Before clients choose it, they should get all information about the account structure, trading scope, risk parameters and asset-specific LTVs. Collateral changes and top-ups may need manual processes. That is why institutions should also have adequate collateral buffers in place and plan 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 according to the applicable rules. They are segregated according to profit and loss and are settled at the master-account level. These accounts are not independent, and cannot independently bind, delegate, or undelegate custody assets.

Before onboarding, institutions that are managing multiple teams, engaging in multiple strategies and have put an account-permission structure in place should confirm all the arrangements pertaining to sub-accounts, trading permissions, master accounts and settlement aggregation with the Bitget institutional team.

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.