Bitget to Launch Open Custody Network (OCN), Redefining the Relationship Between Asset Custody and Trading

Bitget announced on Nov. 5 the launch of its Open Custody Network (OCN), an open custody framework built around the principle of "assets in bank, trading on Bitget" that connects banks and custody firms to the exchange's trading infrastructure. The network combines independent asset custody, bank and institutional-grade security, integrated exchange trading, and capital efficiency, breaking the traditional centralized exchange model in which custody and trading sit on the same platform. Through an asset-mapping mechanism, eligible users can keep independent custody of their assets while accessing Bitget's spot, leverage, and futures trading with exchange-level liquidity. CEO Gracy Chen said OCN removes the requirement that users park assets on the exchange to use its trading services, aiming to make financial services more open and inclusive. It matters as a push to separate custody from execution at a major exchange, and the next things to watch are which banks and custodians join the network, when it goes live, and how the asset-mapping mechanism handles collateral and settlement across venues.