KuCoin has announced a new partnership with BitGo Singapore aimed at enhancing security in institutional trading. This collaboration is linked to the company's $2 billion project.
Partnership Between KuCoin and BitGo Singapore
Announced on June 19, the partnership allows KuCoin's institutional clients to trade without pre-funding their exchange wallets. Assets will now be held under regulated custody at BitGo Singapore, a licensed Major Payment Institution regulated by the Monetary Authority of Singapore.
Benefits of the New Solution for Institutional Clients
Clients will have full access to KuCoin’s trading products, including spot, margin, options, and perpetual futures, while ensuring their assets remain off-exchange and fully protected. BitGo Singapore also offers qualified custody with insurance coverage of up to $250 million and automated post-trade settlement.
Future of Digital Trading and Executive Comments
Tika Lum, Head of Institutional Business Development at KuCoin, stated that this partnership is a significant step in the company’s strategy aimed at enhancing trading security. She emphasized, “Security and trust are the foundation for institutional adoption.” Brett Reeves, Head of Go Network at BitGo, noted that this partnership contributes to creating a more efficient and secure trading ecosystem.
The partnership between KuCoin and BitGo Singapore illustrates the commitment to improving security in the digital asset space and the institution sector. With close collaboration with leading custody providers, the company aims to develop a more secure trading infrastructure.
