KuCoin, a prominent global cryptocurrency exchange, has announced its partnership with BitGo Singapore, a subsidiary of BitGo Inc, to integrate with the Go Network for Off-Exchange Settlement (OES). This collaboration is a key component of KuCoin’s $2 billion Trust Project, aimed at bolstering platform security and institutional trust.
The integration allows institutional clients on KuCoin to trade without the need to prefund exchange wallets, as assets are securely held in regulated custody under BitGo Singapore, a licensed Major Payment Institution by the Monetary Authority of Singapore (MAS). This setup offers a secure model of custody and execution separation, reducing counterparty and systemic risks whilst enhancing operational security.
Institutional clients will benefit from a range of features, including qualified custody with insurance coverage up to $250 million, automated post-trade settlement, and full asset control with delegated trading access. KuCoin’s comprehensive suite of products, including spot, margin, options, and perpetual futures, can now be accessed through the Go Network, ensuring asset protection.
Tika Lum, Head of Institutional Business Development at KuCoin, stated, “Security and trust are the foundation for institutional adoption. We are proud to integrate with BitGo Singapore’s Go Network.” Brett Reeves, Head of Go Network at BitGo, added, “Partnering with KuCoin marks a major step forward in building a more efficient trading ecosystem.”
As off-exchange settlement gains traction, KuCoin continues to collaborate with global leaders in compliance and custody to enhance the security and trustworthiness of digital asset trading. Founded in 2017, KuCoin is recognised for its cutting-edge blockchain infrastructure and has been acknowledged by Forbes and Hurun for its excellence in the digital economy.
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