Crypto Exchange Kucoin now allows institutional clients to act without having to have to fund wallets and recreate a trade experience that they would recognize from the traditional funding (tradition) world.
The Seychelles-based exchange collaborated with Bitgo Singapore and will use Crypto Custodian’s Go-EXHANGE Network for Off-Exchange settlement (OES), Kucoin said.
“Kucoin’s full package of products – spot, margin, opportunities and eternal futures – can now be accessed via GO network, ensuring that assets remain protected,” the exchange said in Thursday’s announcement.
Since cryptic companies seek to pay in to increase crypto institutional adoption, they are faced with having to introduce tools as a well -known in Tradfi. In this case, institutional clients’ assets in Bitgo Singapore’s storage after the model remain by separating custody and execution to mitigate the counterparty and systemic risk.
For some, what Kucoin aims to offer to offer is an echo of the now abandoned Silvergate Bank’s Exchange Network (late) platform, which helped institutions to move funds for exchange. The bank interrupted the service in March 2023 shortly before entering liquidation during the crypto winter, which had built in 2022 and got upside down with the collapse of FTX on the previous November.
