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Matrixport Enhances Prime Brokerage Offerings with Copper to Better Safeguard Exchange Access and Manage Counterparty Risks
Matrixport, one of the world’s largest and trusted digital assets financial services ecosystems, today announced a flagship partnership with Copper.co, a leading institutional digital asset custody provider, integrating its pioneering off-exchange collateral management and settlement solution, ClearLoop. This collaboration significantly enhances Matrixport’s prime brokerage offerings by providing increased security, capital efficiency, and access to a wide range of ClearLoop-connected exchanges.
The ClearLoop integration allows institutional users to keep their assets securely within Copper’s infrastructure while simultaneously trading on ClearLoop-connected exchanges through Matrixport sub-accounts. This streamlined process not only ensures clients are protected from exchange counterparty risks but also promotes capital efficiency.
Daniel Egloff, Head of Prime Brokerage at Matrixport, said: “Effectively managing exchange counterparty risk is a priority among institutions. Copper.co’s solution delivers unfettered access to an extensive list of high-volume exchanges, while minimising exchange counterparty exposure. Clearloop empowers us to offer our clients a more secure and capital efficient way to trade and invest in digital assets. As a company that is fully committed to robust operational risk management, we are excited about integrating best-in class solutions for our prime brokerage clients.”
Dmitry Tokarev, CEO at Copper, commented: “We are thrilled to collaborate with Matrixport, providing their clients with secure access to a growing number of ClearLoop connected exchanges. This partnership demonstrates our shared commitment to building a more secure, transparent, and accessible financial market infrastructure in the digital asset industry. Copper has implemented a dedicated account structure for ClearLoop to address potential insolvency risks. Clients and exchanges are granted a security interest over their assets within the trust, favouring each other. This includes our innovative bankruptcy remote legal framework where in the event of insolvency, the digital assets held in trust would not be part of Copper’s insolvent estate. Copper’s financial risk team monitors the collateral round the clock, providing an additional layer of assurance.”
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