Spotex has integrated its institutional execution venue with BitGo’s custody and settlement infrastructure, joining a growing network of platforms connected to the digital asset custodian’s institutional rails. The arrangement allows institutional clients including brokers, hedge funds and asset managers to access Spotex’s digital asset liquidity while keeping their holdings in regulated BitGo custody throughout the trade lifecycle.
The integration maintains separation between execution and custody functions. Spotex operates its electronic communication network without acting as principal, while BitGo entities manage custody, prime services, clearing and post-trade settlement. Clients using BitGo’s Go Network can allocate assets already in custody for trading on Spotex, eliminating pre-funding requirements and reducing asset movement between counterparties.
Rather than creating bespoke custody infrastructure, Spotex is connecting to BitGo’s existing network that already serves multiple venues including Hyperliquid and Virtu. This modular approach lets BitGo supply backend custody and settlement while venues maintain responsibility for market-facing execution services.
Spotex emphasizes the arrangement is non-exclusive and describes its platform as custodian-agnostic, signaling plans to add alternative custody providers. The integration follows Spotex’s appointment of Joe Tuccio as Head of Digital Assets to expand institutional digital asset offerings.
For regulated brokers entering digital assets, this development highlights the maturing infrastructure landscape where execution, custody and settlement can operate separately across specialist providers rather than forcing single-provider dependencies.
FXnCO Insight
Multi-custodian connectivity is becoming table stakes for institutional digital asset venues as clients prioritize operational segregation and reduced counterparty concentration over all-in-one provider relationships.
Source: Finance Magnates