Bitget Integrates Off-Exchange Custody with Sygnum Protect

Bitget has integrated Sygnum Protect, an off-exchange custody platform operated by Swiss-regulated Sygnum Bank. This move allows institutional traders to keep their collateral in segregated, bankruptcy-remote custody at Sygnum while maintaining a corresponding balance on Bitget for spot and derivatives trading.

The integration is significant as it reflects the growing trend of separating custody from execution in the crypto market. According to CoinMarketCap, Bitget is currently ranked fifth among crypto derivatives exchanges, with $4.36 billion in open interest and $9.34 billion in 24-hour derivatives volume at the latest reading.

Bitget CEO Gracy Chen stated that working with Sygnum allows institutional clients to tap into the exchange's liquidity and product depth while keeping their assets off Bitget's balance sheet, held with a regulated Swiss bank.