As per the latest reports, FTX has made an announcement for its users. FTX, one of the prominent cryptocurrency exchanges has made an announcement in regards to the integration of a new protocol on its system. The firm has announced that it has joined hands with the ClearLoop system.
FTX is not the only cryptocurrency exchange that has integrated/adopted the ClearLoop service on its platform. Several other exchanges have already done it and they are benefitting a lot from the integration.
ClearLoop is an infrastructure that offers settlement for instant trading. The infrastructure is powered by Copper.co, which is backed by Alan Howard.
Now that FTX has gone for the integration with the ClearLoop infrastructure, it would be able to benefit a lot from the system. At present, there are many institutional asset managers that are currently being managed by Copper.co. According to the reports, at present, Copper.co is responsible for managing more than 300 institutional asset managers.
With the integration, these institutional assets managers from Copper.co would be able to access the FTX cryptocurrency exchange. They will be able to benefit from the services and products that FTX is currently offering its users.
At present, some of the major products and offerings from the FTX cryptocurrency exchange include tokenized stocks, volatility markets, options, and cryptocurrency futures among others.
FTX is considered among some of the major cryptocurrency exchanges in the entire cryptocurrency industry. It currently observes a tremendous amount of trading volume per month. According to stats, the exchange currently observes over $600 billion worth of trading volume that is flowing through the exchange on a monthly basis.
The exchange also boasts have an enormous number of active users on its platform. The exchange claims that it currently has over a million users that have registered through its platform. These users are currently active through its platform and are responsible for generating such a high volume of cryptocurrency transactions.
Copper.co has also made an announcement in regards to its partnership with FTX for the ClearLoop integration. According to Copper.co, it is currently the largest cryptocurrency exchange that has collaborated with it in order to integrate the ClearLoop system.
Some other major cryptocurrency exchanges that have already adopted the ClearLoop system include Bitfinex and Deribit. With the integrations, the clients at Copper.co can also benefit, as they would be able to move their funds among all the integrated exchanges.
It would now be very convenient and easy for the Copper.co clients to move funds among the major exchanges. At present, the major exchange types include derivative, spot, and crypto options exchanges.
According to the FTX exchange, they are very excited about the recent integration and are hopeful that the new integration would bring more users to its platform.