Universal exchange Bitget has launched Open Custody Network (OCN) to connect banks and institutional-grade custodians to its trading infrastructure. Users can now trade digital assets while keeping asset custody separate.
The network uses asset mirroring to give investors access to Bitget’s spot, margin, and futures markets. Assset custody can still be handled by participating external providers without the need to be transferred to Bitget’s exchange.
In a press release, the firm claims that OCN unites custody independence, banking and institutional-grade security, integrated exchange trading, capital efficiency, and connected liquidity. It aims to provide “a more integrated experience, lower barriers to entry for everyone, and more equitable access to financial services”.
The solution is described as “a practical way to manage custody concentration risk while putting externally held assets to work across trading strategies”, giving “greater custody flexibility and the ability to deploy externally held assets across trading strategies”.