OKX and BitGo Take Off-Exchange Settlement Beyond the US
By Rick Steves
AI summary of the source article
OKX and BitGo have broadened their off-exchange settlement integration to international institutions, building upon an existing US arrangement. Under this model, eligible non-US entities can trade on OKX while their assets remain in segregated custody with BitGo Singapore, settling afterward via the Go Network. Supported collateral includes ADA, bitcoin, ether, litecoin, solana, USDC, USDT, and XRP, covered by an aggregate insurance policy of up to $250 million for specific risks. BitGo Singapore holds a Major Payment Institution licence from MAS. While the setup mitigates direct exchange pre-funding risks, neither firm disclosed exact settlement frequencies, haircuts, or default-management rules.
Why it matters
The model lets institutional traders access exchange liquidity without pre-funding ordinary exchange wallets, reducing direct counterparty exposure to venue custody and insolvency risks.
Key facts
- BitGo Singapore holds segregated custody for international OKX institutional clients, with settlement managed by BitGo's Go Network.
- Eight assets are supported as collateral: ADA, bitcoin, ether, litecoin, solana, USDC, USDT, and XRP.
- Assets held with BitGo Singapore carry up to $250 million in aggregate insurance coverage for theft, loss, or misuse of keys.