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Bitget Integrates Sygnum Bank Custody, Pushing Partner Volume Over 50% of Global Market
Summary
Cryptocurrency exchange Bitget has integrated with Swiss digital asset bank Sygnum, allowing institutional clients to hold collateral off-exchange. The move brings the total trading volume on Sygnum's custody platform to over half of the global market, according to the bank.
Cryptocurrency exchange Bitget has completed its integration with Sygnum, a Swiss-regulated digital asset bank, to utilize its off-exchange custody platform. With this partnership, exchanges connected to Sygnum's custody solution now account for over half of the world's total crypto spot and derivatives trading volume, Sygnum reported.
Off-Balance Sheet Collateral
Under the new arrangement, Bitget's institutional clients can trade spot and derivatives on the exchange while their collateral is held in custody by Sygnum in Switzerland. This structure keeps client assets off Bitget's balance sheet, ensuring they are segregated and bankruptcy-remote under Swiss banking law.
Client balances are mirrored on the Bitget platform to facilitate trading. Bitget, which serves over 125 million users in more than 150 countries, is one of the world's largest exchanges by derivatives volume.
A New Institutional Standard
The integration highlights a significant industry trend where off-exchange custody is evolving from a niche safeguard to standard infrastructure for institutional-grade digital asset trading. "Off-exchange custody has become a core settlement pillar for institutional digital asset trading," said Thomas Eichenberger, Deputy Group CEO of Sygnum Bank.
Bitget CEO Gracy Chen added, "With the largest trading venues moving towards bank-grade custody, this is fast becoming the expected standard for institutional investors."
AdSygnum's 'Protect' Platform Growth
Sygnum's platform, named "Protect," launched in April 2024 and has seen rapid adoption. The bank stated that assets on the platform grew by over 900% in 2025 to surpass $1 billion, making it the largest bank-operated platform of its kind.
The platform accepts a range of collateral, including:
- Bitcoin (BTC)
- Ether (ETH)
- Stablecoins
- U.S. Treasuries
A key differentiating feature, according to Sygnum, is that yield earned from U.S. Treasuries can be used to offset custody costs.
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