Crypto Exchange Kucoin now allows institutional customers to negotiate without having to prefabricate portfolios, recreating a commercial experience that they would recognize in the traditional finance world (tradfi).
The exchange based in Seychelles has teamed up with Bitgo Singapore and will use the GO network of the Crypto Gustodian for the OUTHO colony (ESA), said Kucoin.
“The full suite of Kucoin products – spot, margin, options and perpetual future – can now be accessible via Go Network, ensuring that assets remain protected,” said the exchange in Thursday’s announcement.
While cryptographic companies seek to take advantage of the increase in cryptographic institutional adoption, they are faced with having to introduce tools that a familiar in Tradfi. In this case, the assets of institutional customers remain in the storage of Bitgo Singapore, according to the model of separation of the guard and the execution to attenuate the counterpart and the systemic risk.
For some, what Kucoin aims to offer has an echo of the exchange platform (SEN) of the Silvergate Bank exchange platform (SEN), which helped institutions to move funds to exchanges. The bank interrupted the service in March 2023 shortly before its liquidation during the Crypto winter which had built throughout 2022 and reached a head with the collapse of FTX in the previous November.
