- Bitget launches OCN, allowing users to trade without moving assets to the exchange.
- OCN lets users trade spot, margin, and futures while keeping assets with independent custodians.
- CEO Gracy Chen says users should not have to choose between custody and trading.
Bitget has launched its Open Custody Network (OCN), a service that lets eligible users trade on Bitget while keeping their funds with independent banks or trusted third-party custodians.
Traditionally, users must deposit their assets directly with an exchange before they can trade. Now, OCN changes this by separating where funds are stored from where trades are carried out.
How Does It Work?
OCN connects external custody providers to Bitget’s trading platform through an asset-mirroring system. This lets users trade assets held by their chosen custodians without moving funds directly to Bitget. The service supports spot, margin, and futures trading.
Notably, the network is mainly for institutional investors, professional traders, market makers, and asset managers who want access to Bitget’s trading markets while keeping their assets with independent custodians.
According to Bitget, OCN offers greater control over asset storage, institutional-level security, and access to trading liquidity. The goal is to give users more control over their funds while allowing them to trade without moving their assets from their chosen custodians.
Gracy Chen Says Users Should Not Have to Choose Between Custody and Trading
In the announcement, Bitget CEO Gracy Chen said users should not have to keep their funds on an exchange just to access its trading services. She explained that the new Open Custody Network (OCN) allows users to keep their assets with their preferred banks or custodians while still trading on Bitget.
<blockquote> “We challenge the assumption that users must place their assets in an exchange’s custody to access its trading capabilities,” Chen said. <blockquote>
Chen described the idea as “Assets in Bank, Trading on Bitget”. She said the goal is to give users access to Bitget’s trading liquidity and better use of their capital without forcing them to move their funds to the exchange.
Overall, OCN aims to make it easier for institutions to keep their assets with independent custodians while still enjoying the benefits of trading on Bitget.
Related: Bitget Launches #NoCap Affiliate Program With Lifetime Commissions
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