By Priya Menon
BitGo Holdings, Inc. and cryptocurrency exchange OKX announced an international extension of their Off-Exchange Settlement integration that opens OKX’s liquidity to eligible institutions outside the United States while supported assets remain in segregated custody with BitGo Singapore Pte. Ltd.
The move expands a relationship that began earlier this year, when OKX joined BitGo’s Go Network for U.S. institutions. Under the expanded integration, eligible clients domiciled outside the U.S. can access OKX’s international liquidity pools while their supported collateral stays held in custody by BitGo Singapore until the moment of settlement. The arrangement is structured to separate custody, execution and settlement roles among the parties.
Historically, institutions seeking liquidity on an exchange have been required to transfer assets onto the trading venue and hold them there before trades are executed. The Go Network’s Off-Exchange Settlement model is presented as an alternative to that conventional flow - a design meant to eliminate the requirement that assets be moved onto the exchange prior to execution.
Regulatory and licensing details included in the announcement underline the regional operating frameworks for the participants. BitGo’s Singapore entity operates under a Major Payment Institution license issued by the Monetary Authority of Singapore. OKX conducts operations in Singapore through MAS-licensed OKX SG Pte. Ltd., and in Dubai through VARA-licensed OKX Middle East Fintech FZE.
Operational perspective
From an operational standpoint, the integration emphasizes a clear delineation of duties: custody is retained by BitGo Singapore, execution liquidity is provided by OKX, and settlement occurs with collateral still held in segregated custody until finalization. The announcement frames this separation as an explicit design feature of the expanded Off-Exchange Settlement integration.
The public notice does not provide details on eligibility criteria beyond noting that the service is available to "eligible institutions" outside the United States, nor does it outline adoption timelines or additional technical specifications for participants wishing to connect to the Off-Exchange Settlement flow.
Implications for market participants
Institutions that meet the eligibility requirements and choose to use the integration will interact with a settlement workflow that keeps supported collateral outside of the exchange until settlement, while accessing OKX’s international liquidity. The announcement positions the integration as a continuation and international scaling of the earlier U.S.-focused Go Network collaboration with OKX.