Coinbase & Copper Launch ClearLoop OTC for USDC, BTC & ETH
Coinbase International has teamed with Copper to launch a ClearLoop OTC settlement service for institutional clients. The service uses Copper’s ClearLoop off-exchange network and MPC wallet infrastructure. It offers near real-time on-chain settlement for USDC, BTC and ETH trades. Regulated by the Bermuda Monetary Authority, the platform reduces counterparty risk and boosts capital efficiency. Day-one partner Ethena joins other venues like Deribit, Kraken MTF, OKX and Bitfinex in using ClearLoop OTC. The service initially targets Europe and Asia-Pacific, with plans for more assets and regions later in the year. By automating post-trade workflows and consolidating liquidity, the OTC settlement offering streamlines large trades. Analysts say this step will drive institutional adoption by easing settlement delays and custodial fragmentation. Coinbase expects to attract new flows and strengthen its global trading position.
Bullish
The launch of ClearLoop OTC settlement reduces counterparty risk and accelerates fund transfers for USDC, BTC and ETH trades. In the short term, traders may see increased liquidity and lower execution costs for large OTC deals. Over the long term, streamlined post-trade workflows and automated netting foster deeper institutional participation and market stability. By integrating MPC infrastructure and regulatory oversight, the service is likely to boost confidence and drive sustained growth in institutional crypto trading activity.