DUBAI, United Arab Emirates, June 13, 2023 — Bybit, the world’s third most visited crypto exchange, today announced the completion of its integration with Copper's ClearLoop network, which offers clients off-exchange settlement that not only mitigates counterparty risk but also improves capital efficiency. 

Clients will also benefit from Copper’s market-first trust documentation, which was built to mitigate exchange counterparty and insolvency risk. Bybit's commitment to integrating this technology underscores its dedication to meeting the needs of institutional crypto investors.

Bybit, now part of the esteemed ClearLoop network, joins major industry exchanges that uphold the principles of good governance, transparency, accountability, and safety. The integration enables investors to trade on Bybit while settling off-chain, ensuring nearly instant settlement. This feature is especially valuable during periods of market volatility, where blockchain transaction confirmation times can significantly increase, presenting traders with opportunities. 

With assets safeguarded under secure Multi-Party Computation custody at Copper, the integration with ClearLoop also empowers institutions with its clear English Law trust structure. By partnering with Copper and leveraging the ClearLoop network, Bybit addresses the security concerns of institutional investors, providing the necessary reassurance and flexibility demanded by sophisticated market participants.

"Bybit now sits alongside major industry players within the ClearLoop network that honor the pillars of good governance by being transparent, accountable, and, above all, secure," said Ben Zhou, co-founder and CEO of Bybit.  “A little over a year ago, security was the biggest concern for institutional investors, but we are now removing concerns by partnering with custodians like Copper that offer the right set of tools for our institutional clients.”

Dmitry Tokarev, CEO at Copper, commented: “We’re excited to join forces with Bybit, who share our commitment to asset security, user experience and to setting higher standards for the crypto industry to reach its full growth potential.”

#Bybit / #TheCryptoArk / #BybitPartners

//ENDS

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About Bybit

Bybit is a cryptocurrency exchange established in 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions, the Oracle Red Bull Racing team, esports teams NAVI, Astralis, Alliance, Made in Brazil (MIBR), and Oracle Red Bull Racing Esports, and association football (soccer) team Borussia Dortmund.

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