Bitget Integrates with Sygnum's Off-Exchange Custody Model

Crypto exchange Bitget has integrated its platform with Sygnum's off-exchange custody model, allowing institutional clients to trade spot and derivatives while their collateral is held securely in a regulated Swiss bank.

The move marks a significant shift towards standardizing off-exchange custody as the settlement backbone of institutional digital asset trading, according to Thomas Eichenberger, deputy group chief executive of Sygnum Bank.

Bitget's integration with Protect, Sygnum's platform, brings the share of global trading volume that clears against bank-held collateral above half. The exchange serves over 125 million users across more than 150 countries and is among the largest venues by derivatives volume.

The tie-up allows Bitget's clients to trade while their collateral is held off-exchange in Sygnum's ring-fenced and bankruptcy-remote custody, where it is protected under Swiss banking law. This balance is mirrored on Bitget and available for trading.