Bitget Launches Open Custody Network To Connect Banks With Crypto Trading

Bitget has launched the Open Custody Network (OCN), a framework designed to link external custodians and banks directly to its crypto trading platform. The network lets eligible users trade on Bitget’s markets while keeping their assets with their existing custodians rather than transferring them to the exchange. The move matters because it targets the long-standing friction that has kept traditional financial institutions on the sidelines of crypto trading, where counterparty risk and asset custody are key concerns. Bitget has not disclosed specific volume, asset or participant figures tied to the launch. What to watch next is which banks and custodians formally join the network and whether the model draws meaningful institutional trading flow to the exchange.