- Bitget has launched the Open Custody Network (OCN) to connect banks and external custodians with its cryptocurrency trading platform.
- The network allows eligible users to trade on Bitget without transferring their digital assets directly to the exchange.
- The service is aimed mainly at institutional investors, including asset managers and market makers.
Bitget Launches New Custody Model
Cryptocurrency exchange Bitget has launched its Open Custody Network (OCN) that allows banks and third-party custodians to link to the platform. It will see eligible users able to trade on Bitget without having to move their digital assets into custody. When using a centralized crypto exchange, users deposit their funds onto the exchange.
Assets in Bank. Trading on Bitget. 🏦
Bitget Open Custody Network (OCN), connecting banks and institutional-grade custodians directly to Bitget’s trading infrastructure. https://t.co/KluwygAFZA
— Bitget (@bitget) November 5, 2026
With Bitget’s new model users will be able to separate their assets from the trading process. They will be able to store their digital assets with an approved third-party custodian.
Assets Stored Outside With Custodians
Eligible users will be able to use their assets with third-party custodians to trade spot, margin and futures on Bitget. The network uses a mirroring mechanism so that assets held with approved custodians will be recognized on the exchange. There is no need for users to move them onto the exchange.
This could be beneficial to institutional clients who like to have their funds held with trusted banks. Market makers, asset managers and others can continue to use their preferred custodians. It will also aim to reduce the need for institutions to move large amounts of digital assets between different platforms.
Challenging Traditional Views
Bitget CEO Gracy Chen says this new network challenges the traditional view that in order to trade on an exchange, you must put your assets into their custody.
They have summarized this with the slogan:
“Assets in Bank, Tradings on Bitget”.
This aims to give users more control over where their assets are stored but also allow them to take advantage of Bitget’s trading features. The launch also shows that crypto exchanges are looking to become more attractive to institutional investors. These types of large entities often have strict policies regarding where their assets should be held.
By linking third party custodians, banks and trading platforms Bitget hope to make their services more suitable for clients. Whether this will be beneficial will depend on the custody providers involved, what assets are supported and what terms are available for trading.
Stay informed with the latest trends in Web3, blockchain innovation, and cybersecurity updates at 3verseTV
You need to login in order to Like
Leave a comment