OKX taps BitGo custody in major US institutional trading push

OKX partners with BitGo to boost U.S. institutional trading by integrating Off-Exchange Settlement services, ensuring secure asset custody for clients.

What Does OKX 's Integration with BitGo Mean for Institutional Trading? OKX is making waves in the U.S. crypto landscape by partnering with BitGo, integrating their Off-Exchange Settlement (OES) platform specifically for institutional clients. This significant move allows firms to trade on OKX while their assets remain safely secured in BitGo’s cold custody. Why Is This Integration Important? The integration supports U.S. institutional trading with enhanced third-party custody controls, a feature that could change the game for professional traders. The setup means that clients no longer need to pre-fund their exchange accounts before executing trades. Instead, their assets can stay in custody with BitGo while they access liquidity on OKX. How Does This Improve Capital Efficiency? With the backdrop of ever-increasing institutional interest in crypto, OKX's partnership aims to offer greater capital efficiency. Firms can keep their assets under the protection of BitGo while simultaneously trading on the exchange. This arrangement serves to free up capital, allowing institutions to make their money work harder—an essential factor in the current competitive market. “Institutional capital entering crypto requires capital to be protected and to be put to work,” said Roshan Robert, US CEO of OKX. “Our proprietary custody infrastructure has been proven at scale, and our partnership with BitGo gives clients flexibility in how they protect assets while freeing capital to work harder.” What’s the Context Behind OKX's Push into the U.S. Market? OKX's move to deepen its roots in the U.S. follows significant investment from Intercontinental Exchange (ICE), which occurred in early March. Valuing OKX at $25 billion, this investment allowed ICE executives to join the board, paving the way for a more solidified U.S. strategy. Star Xu, the Global CEO of OKX, emphasized that custody remains a core part of their business model. He stated, “At the same time, we’ve expanded our custody par