Bitget Announces Open Custody Network Linking Participating Custodians to Trading

On Nov. 5, Bitget announced the launch of Open Custody Network (OCN), which connects eligible users’ assets held by participating external custodians with its spot, margin and futures markets while custody remains outside the exchange.

OCN uses an asset-mirroring mechanism to connect external custody with Bitget’s trading infrastructure. The network is designed to connect banks and institutional custody providers with the exchange.

In traditional centralized exchange models, users typically transfer assets to an exchange before using its trading services. OCN is intended to let eligible users retain custody with a participating provider while accessing Bitget markets.

Bitget CEO Gracy Chen said the system gives users a choice of custodian while preserving access to the exchange’s trading services. Bitget also described OCN as a way for market makers, asset managers and other institutions to use externally held assets in trading strategies.