Copper has announced the next phase of its multi-exchange strategy in partnership with FalconX, expanding ClearLoop’s integration within FalconX’s Prime Connect solution via the addition of Deribit, one of the world’s crypto options exchanges.
Via this integration, FalconX DMA clients are reportedly able to trade on Deribit while keeping assets custodied off-exchange “using Copper’s ClearLoop technology.”
This provides enhanced security, “reduced counterparty risk, and seamless access to deep derivatives liquidity.”
Following this integration of Copper’s ClearLoop solution, FalconX DMA clients will now:
- Trade on Deribit while holding assets off-exchange, safeguarded with Copper’s MPC-protected custody
- Access up to 5x leverage through FalconX’s integrated credit and risk solutions
- Consolidate margin and risk across venues through a unified interface
- Gain near real-time visibility into off-exchange balances and settlements
This expansion represents the next phase of Copper’s partnership with FalconX. In August 2025, Copper and FalconX announced their initial integration, bringing ClearLoop “connectivity to FalconX’s DMA offering, launching with Bybit as the first exchange.”
Copper and Deribit are also building on nearly six years of collaborative development, with Deribit among the first exchanges “to adopt ClearLoop’s institutional-grade off-exchange settlement and custody.”
The relationship has evolved significantly since, with Copper “reporting significant user volumes accessing Deribit through ClearLoop.”
Adam VandenBoogaard, Head of Revenue, Americas at Copper said that by extending ClearLoop connectivity “through FalconX to include Deribit, they’re helping prime brokers offer institutional clients a way to trade across venues while keeping collateral with a custodian.”
ClearLoop’s off-exchange settlement model “supports deployment of capital, simplifies post-trade operations, and helps prime brokers scale their derivatives offering without increasing operational overhead.”
With multiple venues live and more on the way, they “are focused on giving prime brokers and their clients the infrastructure they need to grow institutional digital asset trading.”
Wee Kuo, Senior Business Manager, DMAXX at FalconX said that they are pleased to be building on their partnership with Copper “by extending ClearLoop into their Prime Connect solution with Deribit.”
This integration brings institutional-grade, “off-exchange custody and seamlessrapid net settlement directly into their DMA workflow, giving clients controlled access to leading options and futures liquidity.”
They’re continuing to work with Copper on “extending ClearLoop connectivity across additional exchanges to deliver efficient market access at scale.”
Since being founded in 2018, Copper has been building what it describes as being the so-called standard for institutional digital asset infrastructure with “a focus on custody and collateral management.”
Underpinned by digital technology, Copper has built a suite of products and services required to custody and trade digital assets.
At the core of Copper’s digital infrastructure is ClearLoop, which enables clients to “manage collateral and settle trades across exchanges, while mitigating counterparty risk and increasing capital efficiency.”