PowerTrade, a fast-growing crypto derivatives exchange focused on options, has partnered with Copper.co, leading provider of institutional digital asset custody and trading solutions, to offer custodial and settlement services for its institutional clients.

PowerTrade will leverage Copper.co’s pioneering ClearLoop technology that enables institutions to deploy capital on the exchange and trade immediately while maintaining their assets off-exchange in independent custody.

The crypto exchange has features such as cash-settled (USD) options, RFQ with no minimums and multi-leg structures.

PowerTrade is a one-stop-shop for institutional-grade derivatives trading, and Copper.co will allow its clients to unlock higher allocations, minimise counterparty risk and achieve greater capital efficiency.

“Copper's ClearLoop brings institutional grade clearing and settlement to PowerTrade in line with TradFi standards. Under this model PowerTrade does not custody our client's assets, which will result in vastly improved controls when it comes to segregation of assets, settlements, and funds management. We are very excited to bring this service to our clients on PowerTrade.” said Mario Gomez Lozada, founder and CEO of PowerTrade. “PowerTrade’s mission continues to focus on accelerating the adoption of crypto options by delivering a world-class user-experience. Today’s announcement helps accelerate that mission by offering our clients this best-in-class custody solution.”

“PowerTrade’s full derivatives suite is very important for our institutional clients in search of diversifying their concentration risk by connecting to alternate trading venues,” said Michael Roberts, Head of Prime, Copper.co.

Over 500 institutions already custody their crypto assets with Copper, which now supports more than 500 different tokens.