KuCoin Rolls Out Off-Exchange Trading with BitGo Singapore Custody

KuCoin partnered with BitGo Singapore to allow institutional clients to execute trades without pre-funding their wallets, using BitGo's Go Network for off-exchange settlement.

The Seychelles-based crypto exchange now lets institutions keep their assets in BitGo Singapore's custody while trading across spot, margin, options and perpetual futures markets. BitGo Singapore holds the institutional clients' digital assets throughout the trading process. 

This mirrors traditional finance workflows where custody and trading are separated. When trades execute on KuCoin, settlement happens through Go Network between BitGo's custody system and the exchange. Assets never transfer to KuCoin's control.

BitGo Singapore operates as a Major Payment Institution in Singapore, providing institutional-grade storage for digital assets. Institutional clients can begin using the service immediately through their existing BitGo Singapore custody relationships. 

As part of KuCoin’s $2 billion “Trust Project,” this partnership shows KuCoin’s strong focus on safety and adherence to regulations. Institutional clients now get up to $250 million in insurance, automatic trade settlement after deals are made, and flexible control over who can trade, making their assets more secure and trading more efficient.

Tika Lum, Head of Institutional Business Development at KuCoin, commented:

Security and trust are the foundation for institutional adoption. We are proud to integrate with BitGo Singapore's Go Network. This partnership represents a critical component of our $2 Billion Trust Project and delivers a more resilient trading paradigm to institutional clients globally.

The service resembles Silvergate Bank's former Exchange Network, which allowed institutions to move U.S. dollars to exchanges directly from their bank accounts. Silvergate shut down its Exchange Network in March 2023, before entering liquidation following the FTX collapse.

The KuCoin–BitGo partnership addresses institutional concerns about counterparty risk and asset security. Many institutions prefer keeping assets with established custodians rather than transferring them to exchange wallets for trading. KuCoin's integration with BitGo Singapore revives the concept of off-exchange settlement for crypto trading. 

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