Gate.io integrates with Copper’s ClearLoop network amid fresh focus on custody

Quick Take

  • Crypto exchange Gate.io is partnering with digital asset custody firm Copper.co.
  • Move will allow users to quickly execute trades while maintaining independent custody of their funds

Crypto exchange Gate.io is partnering with digital asset custody firm Copper.co to fully integrate with its ClearLoop solution in a move that will allow users to quickly execute trades while maintaining independent custody of their funds.

"Joining Copper’s ClearLoop network is part of our broader effort to enhance customer asset safety and provide institutional clients the support they need to succeed in their trading endeavors," Gate.io founder and CEO Lin Han said in an emailed statement. 

The announcement comes rising interest in custody issues, with U.S. Securities and Exchange Commission Chair Gary Gensler arguing this week that many crypto firms are not in compliance with current rules around safeguarding digital assets.

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"Copper is here to support the drive towards mitigation of counterparty risk and help institutions engage with crypto assets in a way that is secure, faster, and easier," Copper CEO Dmitry Tokarev said in the statement.

Gate.io currently has around 12 million users worldwide, with billions of dollars in daily trading volume and 3,000 spot pairs. 


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About Author

Nathan Crooks is the U.S managing editor at The Block, based in Miami. He was previously at Bloomberg News for 12 years, where he helmed coverage of South Florida after roles as a breaking news editor and bureau chief in Caracas, Venezuela. He's interviewed presidents, government ministers and CEOs, and, besides crypto, has covered major news events on the ground from earthquakes to hurricanes to the Chilean mine rescue in 2018. Nathan, a native of Clarion, Pennsylvania, holds a bachelor's degree from the University of Toronto, where he completed a specialist in political science, and an MBA from American University in Washington, D.C.

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