Home
Cryptocurrency
Cryptocurrency News
Bitget Launches Open Custody Network for Trading Without Exchange Custody

Bitget Launches Open Custody Network for Trading Without Exchange Custody

Bitget’s new network connects external custodians to its trading engine through an asset-mirroring mechanism.

Written by Rahul Dhingra, Edited by Rohan Pal | Updated: 5 November 2026 18:33 IST

Bitget Launches Open Custody Network for Trading Without Exchange Custody

Photo Credit: Unsplash/Shubham Dhage

Bitget’s Open Custody Network aims to separate asset storage from trading execution

Click Here to Add Gadgets360 As A Trusted Source

Highlights

OCN supports spot, margin, and derivatives trading
Participants can retain assets with independent custodians
Bitget previously announced six institutional custody partners

Bitget has now introduced the Open Custody Network (OCN), which enables eligible users to trade cryptocurrencies on the exchange's spot, margin, and futures markets while retaining custody of their assets at independent banks and custodians. As per the company's November 5 announcement, the new network will connect external custodian firms to Bitget's trading engine through a mirroring mechanism of assets that allows traders to enjoy liquidity provided by the exchange without depositing their assets into the exchange's custody. The platform offers a solution to market makers and asset managers who wish to keep their custody firms unchanged but trade using their assets.

Bitget Integrates Multiple Institutional Custodians Through Its Asset-Mirroring System

According to Bitget, the network would provide flexibility for the eligible participants to store their money and make use of it for implementing various kinds of trading strategies. The introduction comes in the wake of the already present custody infrastructure provided by Bitget, which already allows for support from various third-party providers and settlement solutions. This comes at a time when banks and cryptocurrency exchanges are busy developing products that can help them separate storage from trading services.

Through asset mirroring, The OCN links the assets held by the participating custodians with those trading at Bitget to enable eligible users to trade supported markets through an infrastructure where their collateral is not on the exchange. In the traditional centralised exchange model, users typically transfer their cryptocurrencies to wallets operated by the trading platform before placing orders. The participating custodians can have custody of their assets from third parties while still being able to use Bitget's trading facilities with the new model.

XRP Ledger Patches Bug That Threatened Token Minting Security

This includes spot, margin, and derivatives trading, but the products accessible to retail traders will vary based on the chosen custodian and settlement model that applies to them. Prior to the launch announcement, Bitget had previously announced institutional custody partners on October 13 in an operational update. These include Copper ClearLoop, Cactus Custody Oasis, Fireblocks Off Exchange, OSL MirrorEX, Bitfire PrimeMirror, and Sygnum Protect. The arrangements operate under different models for settlement, with some custodians allowing traders to trade against their mirrored balances while others have funding systems through custodial services.

According to Bitget, the purpose of the network is to assist organisations in managing the concentration of assets through trading platforms without compromising liquidity and trading strategies. Collateral services that are offered by market makers and asset management companies require liquidity. By using custody providers to connect the eligible firms, the firm will maintain its existing asset management and approvals while connecting to the execution services of Bitget.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

Comments

Get your daily dose of tech news, reviews, and insights, in under 80 characters on Gadgets 360 Turbo. Connect with fellow tech lovers on our Forum. Follow us on X, Facebook, WhatsApp, Threads and Google News for instant updates. Catch all the action on our YouTube channel.

Further reading: Bitget Wallet, Crypto Exchange

Rahul Dhingra

Email Rahul Dhingra

Rahul Dhingra is a crypto writer at Gadgets 360, where he covers the exciting world of Cryptocurrency, Blockchain, Defi and Web3. Before joining Gadgets 360, he worked as a content specialist for a European-based Crypto Exchange. Rahul loves storytelling, not just through the written word but also through the visual medium. Beyond his professional life, Rahul is a sports fanatic. Whether it’s cricket or football, his passion for the game is contagious. More