Overview
- Bitget announced the Open Custody Network on Thursday, November 5, 2026, which lets eligible institutional users trade on its spot, margin and futures markets without moving assets into exchange-controlled wallets.
- The network uses asset mirroring, a technical link that exposes custodial balances to Bitget’s order and margin systems while the underlying assets remain held by third-party banks or custodians.
- Product access and settlement timing vary by custody partner because each provider uses a different model, for example Copper’s ClearLoop credit support, Cactus Custody’s eight-hour off-chain settlements, Bitfire’s daily settlements, OSL’s loss-triggered settlement and Sygnum’s pledge/financing approach.
- Bitget positions the launch as a response to custody concerns after its September $387.5 million hot/warm wallet breach and follows the company’s public reserve disclosures, including a reported 115% reserve ratio on October 30.
- The service is aimed at market makers and asset managers that need collateral available across venues while keeping established custody relationships, and it fits a broader trend of banks expanding institutional crypto custody services that separate safekeeping from execution.