Bitget has announced an Open Custody Network intended to let eligible users keep assets with banks or institutional custodians while using a mirrored balance for trading on the exchange. The 5 November announcement describes support for spot, margin and futures activity.[1]
The proposed separation is between asset storage and trading access. Instead of transferring all trading collateral into an exchange-held wallet, a user would retain assets within the supported external custody arrangement and obtain corresponding trading capacity on Bitget.[1]
That structure can change where assets are held, but it does not by itself remove the obligations created by a trade. Margin calls, settlement, withdrawals and default handling depend on the agreements between the customer, custodian and exchange. A mirrored balance is an accounting and trading mechanism, not proof of legal protection in an insolvency.[1]
Partner and collateral terms remain material
The launch statement does not name participating custody providers or publish a full set of eligible assets, collateral haircuts and settlement terms. Those omissions matter because they determine which users can access the service and how much trading capacity an externally held asset supports.[1]
For institutions, the announcement introduces an alternative to placing all relevant assets directly with the trading venue. Its usefulness will depend on the specific custody and collateral arrangements made available, rather than on the network label alone.[1]
Sources & further reading
- Bitget introduces Open Custody Network Bitget · 5 Nov 2026 · Accessed 6 Nov 2026