Crypto Derivatives Platform ZUBR Integrates Copper’s ClearLoop Solution
Crypto derivatives platform ZUBR has partnered with London-based digital currency custodian Copper to integrate their ClearLoop solution to strengthen the security and efficiency of the ZUBR platform.
ZUBR is an arbitrage hub for digital asset derivatives, aimed at experienced and professional market participants and traders exploiting quantitative algorithmic and latency-sensitive trading strategies. Its client-base includes proprietary trading firms and individuals that trade in a wide range of cryptocurrency markets, using arbitrage and other latency-sensitive strategies across multiple trading venues. In May of this year, ZUBR received in-principle approval for its Distributed Ledger Technology (DLT) Provider license (Gibraltar) and is expected to be in the first generation of European regulated cryptocurrency exchanges.
Copper’s platform facilitates investors who require dedicated account management and professional custody and execution services. The company’s ClearLoop settlement solution is a tool for investors to instantly settle crypto trades off-exchange.
To date, asset managers trading cryptoassets have had to move their assets from their secure cold wallets into the hot wallets provided by exchanges, a process which can often take more than one hour for even one blockchain confirmation. These delays are exacerbated when taking into account withdrawal times post-trade. ClearLoop eliminates this by enabling off-exchange settlement, which takes less than one second. As a result, ClearLoop enables traders to react faster and execute significantly higher volumes per transaction.
ZUBR said that the integration of ClearLoop into its platform provides another layer of security and efficiency for institutional and sophisticated traders who usually move their holdings from crypto exchanges to secure custodian services or cold wallets.
“With the ClearLoop integration, both ZUBR and its clients will have assets allocated to cover any position submitted by a trader before it is opened,” ZUBR said. “When the trade is closed, ClearLoop instantly settles fiat and crypto trades between the parties. Clearloop also enables traders to move assets on to the ZUBR almost instantly, a huge benefit to traders employing high-frequency arbitrage strategies. This will allow ZUBR’s clients to react faster and optimize their use of capital.”
Dmitry Tokarev, Founder and CEO of Copper, said that Copper is committed to ensuring that all institutional crypto investors can store and trade cryptoassets efficiently and securely.
“ClearLoop is the culmination of years of work to make that commitment a reality, and brings us one step closer to making crypto mainstream,” said Tokarev. “Integrating with ZUBR is a natural next step for the ClearLoop system. Our MPC-secured wallets ensure assets are protected throughout the entire life cycle of a trade. For institutions, this is not just a nice to have – it is essential.”
ZUBR joins other exchanges such as Deribit, AAX, Bitfinex, CoinPass, Diversifi and Xena which have also integrated Copper’s CleapLoop.
“ZUBR puts user experience and security above all else – so integrating Copper’s ClearLoop was a natural and obvious next step as de-risking settlement and cutting down on delays will allow our users to push their capital even further,” said Ilgar Alekperov, CEO of ZUBR. “Our users already enjoy guaranteed microsecond connection speeds to our exchange. Now, with ClearLoop, we can offer market-leading settlement times too. “We have already strengthened our platform with tools such as the Crystal Blockchain platform and are also pursuing other certification to verify the trust and security of the platform. With ClearLoop, we are taking digital arbitrage to the next level with the most highly secure trading environment for our clients.”
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