Bitget Teams with Sygnum to Bolster Institutional Digital Asset Trading
Bitget, a major crypto exchange, has joined forces with Sygnum, a global digital asset banking group, to offer off-exchange custody through Sygnum Protect. This milestone marks another step towards making bank-operated, off-exchange custody the new default market infrastructure for institutional digital asset trading.
With access to Sygnum Protect, Bitget's clients can trade crypto spot and derivatives on the exchange while their collateral is held securely in Sygnum's regulated custody in Switzerland. This allows investors to fully focus on execution, liquidity, capital efficiency, and their investment strategy without worrying about counterparty risk.
Sygnum Protect accepts a broad range of collateral, including Bitcoin (BTC), Ethereum (ETH), stablecoins, and US treasuries. Thomas Eichenberger, deputy group CEO and chief strategy officer at Sygnum Bank, notes that off-exchange custody has become the settlement backbone of institutional digital asset trading.
Gracy Chen, CEO of Bitget, emphasizes the importance of security and trust in driving institutional adoption: 'Security and trust are the foundation of institutional adoption, and off-exchange custody now sits at the heart of both.'