Crypto Exchange Kucoin now allows institutional clients to trade without pre-funding wallets, recreating the trading experience they recognize from the traditional finance (TradFI) world.
Seychelles-based Exchange, in partnership with Bitgo Singapore, will use the crypto custodian’s GO network for non-exchange settlement (OES).
“Kucoin’s complete product suite – spot, profit, options and permanent futures – is now accessible via the GO Network to ensure assets remain protected,” the exchange said. Thursday’s announcement.
As crypto companies seek to cash out Adoptions in crypto institutions increasethey face the need to introduce familiar tools in tradfi. In this case, the assets of the institutional client remain in the storage of Bitgo Singapore, following the model of separating custody and execution to mitigate adversary and whole-body risk.
For some, Kucoin aims to offer products with echoes of the now discontinued Silvergate Bank Exchange Network (SEN) platform, which helps institutions transfer funds to exchange. The bank ceased the service in March 2023 Not long before the liquidation The former FTX went bankrupt during the crypto winter built throughout 2022, ahead of November.
