ChainCatcher news, according to Cointelegraph, DBS Bank will launch over-the-counter (OTC) crypto options trading and structured notes for institutional clients, continuing to offer financial products linked to Bitcoin and Ethereum. Although DBS Bank did not disclose specific dates, the bank stated that the issuance of related cryptocurrency products will begin sometime in the fourth quarter of 2024.

According to ChainCatcher news reported by The Block, the cryptocurrency exchange platform Kraken has increased support for Copper's ClearLoop, allowing institutional clients to settle trades on Copper's infrastructure rather than on the exchange itself.ClearLoop enables such traders to trade virtual balances on the exchange while actual settlements occur on their own network. This means that the token balances of these traders are guaranteed by Copper, rather than being stored on the exchange. This move helps institutional clients reduce the risk of funds being stolen.

ChainCatcher news, according to The Block, cryptocurrency service company Abra announced the launch of two new platforms: Abra Private for private clients and Abra Prime for institutional clients such as hedge funds, venture capital firms, and cryptocurrency infrastructure companies.It is reported that Abra offers a variety of services including lending, loans, equity, yield, and over-the-counter trading, supporting more than 75 cryptocurrencies and stablecoins.

ChainCatcher news, DWF Labs co-founder Andrei Grachev posted on the X platform that just 5 days after the launch of the institutional-grade OTC trading platform DWF Liquid Markets, there are already 130 institutional clients.

ChainCatcher news, Deutsche Börse Group announces the launch of the cryptocurrency spot platform Deutsche Börse Digital Exchange (DBDX) for institutional clients.Initially, trading on DBDX will be conducted on a Request for Quote (RfQ) basis, followed by multilateral trading. Deutsche Börse will lead the operation, while Crypto Finance (Deutschland) GmbH will provide settlement and custody services.

ChainCatcher news, Coinbase stated that when institutional clients exchange a net amount of USDC for USD exceeding $75 million within 30 days, a conversion fee will be required.Among them, transactions between $75 million and $150 million will incur a fee of 0.1%; transactions between $150 million and $500 million will incur a fee of 0.15%; exchanges exceeding $500 million will incur a fee of 0.2%.Coinbase further stated that Coinbase Prime clients holding assets over $500 million on the platform or maintaining an average of $100 million in USD/USDC per month will be exempt from conversion fees.

ChainCatcher news, according to Bloomberg, HSBC Holdings Plc will collaborate with Metaco, a subsidiary of Ripple Labs, to provide digital asset custody services such as tokenized securities for institutional clients, with the service expected to launch in 2024.This issuance will complement HSBC's digital asset issuance platform named HSBC Orion and the bank's recently launched tokenized gold issuance system.

ChainCatcher news, according to CoinDesk, Komainu, a compliant digital asset custodian jointly established by Nomura Securities, Ledger, and Coinshares, has joined the ClearLoop network of the crypto custody platform Copper. This collaboration will allow Komainu's institutional clients to trade through ClearLoop, enabling clients to benefit from the regulated on-chain custody provided by Komainu while gaining access to over-the-counter settlement through the network. ClearLoop allows investors to connect multiple exchanges within a trading network, holding assets before trade execution, thereby reducing counterparty risk and eliminating the need to transfer assets to exchange-based wallets.

ChainCatcher news, according to CoinDesk, Standard Chartered Bank plans to start custody for BTC and ETH for institutional clients in Dubai in the first quarter of 2024. In the future, Standard Chartered also plans to create a cryptocurrency settlement mechanism to fill the gap left by Signature Bank and Silvergate's settlement networks.Previously, on May 10, it was reported that Standard Chartered plans to launch digital asset custody services in the Dubai International Financial Centre (DIFC) after obtaining regulatory approval. This service will be aimed at institutional clients worldwide and will be supported by its subsidiary Zodia Custody.

ChainCatcher news, Standard Chartered's subsidiary and cryptocurrency custody provider Zodia Custody has partnered with OpenEden to start offering yield on held crypto assets to institutional clients, and will also provide staking services for institutions.

ChainCatcher news, Coinbase disclosed in a filing submitted to the U.S. Securities and Exchange Commission (SEC) on September 1 that it is creating a new cryptocurrency lending service for institutional clients in the U.S. to help fill the gap left by the bankruptcies of companies like Genesis and BlockFi. The document shows that the new platform is named Coinbase Credit, Inc., and as of September 1, 2023, it has raised $57 million.According to informed sources, institutional trading clients can borrow money (primarily crypto assets) from Coinbase, using an over-collateralized approach, similar to the bulk brokerage services offered by banks in traditional finance. This new service is different from Coinbase's Lend program, which was canceled in 2021 and targeted retail customers, facing opposition from SEC officials. The latest lending service is aimed at institutions, which means regulatory pressure is relatively lower, provided that large investors have sufficient experience to handle it.

ChainCatcher news, according to Cointelegraph, Crypto.com announced that it will suspend services for institutional clients in the U.S. starting June 21, with limited demand from institutional clients being the main reason for this move.It is reported that the Crypto.com retail mobile application and platform are still fully operational in the U.S., and U.S. retail users can still access CFTC-regulated cryptocurrency derivatives trading and its UpDown options products. Crypto.com is open to possibly restarting its institutional trading in the U.S. (source link)

ChainCatcher news, according to Bloomberg citing informed sources, Binance is discussing a proposal that would allow some institutional clients to store trading collateral in banks instead of cryptocurrency platforms, a move that could help reduce counterparty risk.Informed sources indicate that the world's largest cryptocurrency exchange has discussed a setup with some professional clients that would allow them to use bank deposits as collateral for spot and derivatives trading. Switzerland-based FlowBank and Liechtenstein-based Frick Bank are considered potential intermediaries for this service. (Source link)

ChainCatcher news, Bitget announced a partnership with the crypto custody platform Copper to provide over-the-counter settlement services for institutional clients, which has now integrated Copper's ClearLoop network. After the integration, Bitget's institutional clients will securely store their assets within Copper's infrastructure while delegating their assets for trading on the Bitget platform. Once client assets are stored in Copper and connected to their Bitget account, the Bitget account will instantly display the balance and support over 450 tokens and more than 580 trading pairs. (source link)

ChainCatcher news, research from the Chicago Federal Reserve Bank shows that last year, the withdrawals on cryptocurrency platforms like Celsius Network were "led by customers with large holdings, some of whom are mature institutional clients." The study estimates that before Celsius froze withdrawals and eventually filed for bankruptcy, 35% of all withdrawals in June came from individuals with accounts holding over $1 million; account holders with investments exceeding $500,000 withdrew the fastest and had a higher withdrawal rate. (Source link)

ChainCatcher news, according to CoinDesk, Wu Jihan's digital asset financial services platform Matrixport has partnered with cryptocurrency custody company Copper to provide over-the-counter settlement services for its institutional clients. Matrixport will join Copper's ClearLoop network, allowing users to securely store their assets within Copper's infrastructure while trading on exchanges connected to ClearLoop through Matrixport sub-accounts. (Source link)

ChainCatcher news, according to Cointelegraph, digital asset custody platform GK8 has partnered with USI Insurance Services to expand its insurance policies for institutional clients, providing up to $1 billion in coverage for each client.It is reported that the policy applies to digital assets stored in GK8's offline cold wallets, while assets stored in its multi-party computation-based institutional wallets are covered up to $125 million, to incentivize banks and other financial institutions to start investing in cryptocurrencies. (Cointelegraph)

ChainCatcher news, according to CoinDesk, Bybit has announced the establishment of a $100 million fund to support institutional clients, which will provide up to $10 million in funding support to existing and new market makers and professional client managers on its platform.Bybit CEO and co-founder Ben Zhou stated in a statement, "We are all in this together, and everyone has a responsibility to do their part to support our industry; this is one way we give back to society." (CoinDesk)