Bitget Launches Open Custody Network to Separate Institutional Trading From Asset Storage
Summary
Bitget announced its Open Custody Network on November 5, connecting external banks and institutional custodians to its trading infrastructure for eligible users. The model is intended to let institutions trade without keeping assets directly on the exchange, potentially reducing concentration risk. However, off-exchange custody does not guarantee safety: clients need to verify custody partners, legal ownership, withdrawal controls, settlement arrangements, jurisdiction and asset-retrieval procedures. Bitget’s announcement describes the intended service but does not establish uniform protections or eliminate operational and counterparty risks.
