Coinbase International Exchange has partnered with digital asset infrastructure firm Copper to integrate its ClearLoop network, enabling institutional clients to conduct off-exchange settlement and collateral management. The collaboration, announced on July 11, 2025, allows traders to settle derivatives transactions in near real-time while assets remain securely custodied off-exchange using Copper's multi-party computation (MPC) technology.
This integration significantly reduces counterparty risk by eliminating the need to pre-fund exchange accounts, while improving capital efficiency through instant collateral delegation. ClearLoop's existing network includes major exchanges like Deribit, Kraken, and OKX, with Coinbase International Exchange – which offers 150+ assets and 20x leverage – now joining the ecosystem.
Copper CEO Amar Kuchinard called the integration a "milestone in the development of a mature digital assets industry," while Coinbase International Exchange CEO Marc Zeitouni emphasized its role in delivering "security and agility" for institutional portfolios. Synthetic dollar protocol Ethena has been confirmed as a launch partner, with founder Guy Young noting the integration enhances USDe's hedging capabilities through improved liquidity and risk management.
Initially supporting USDC collateral with plans to expand to more assets, the Bermuda-regulated service represents a significant advancement in institutional crypto infrastructure, combining Coinbase's trading venue with Copper's custody technology to facilitate secure large-scale derivatives trading.