BitMEX partners with Zodia for off-exchange collateral trading

BitMEX has partnered with Zodia Custody to let institutional and professional clients trade derivatives without moving collateral onto the exchange. The firms announced the integration on Tuesday, and the feature is available immediately through Zodia’s Interchange off-venue settlement service.

Under the arrangement, collateral remains in Zodia’s segregated vaults while a mirrored position is created on BitMEX for execution. Traders can access perpetual swaps and futures on BitMEX without prefunding an exchange account.

The setup supports cross-collateral use of Bitcoin, Ether, Tether USDt and USDC. Those assets serve as margin for derivatives positions while remaining under Zodia’s custody.

BitMEX described the design as intended to improve capital efficiency and reduce operational risk tied to workflows that require moving assets between custody and exchange accounts.

Zodia Custody launched in 2021 and is backed by Standard Chartered. The firm secured Markets in Crypto-Assets Regulation (MiCA) authorization in Luxembourg in late 2025, enabling regulated custody services across the European Union. Interchange is Zodia’s off-venue settlement product that facilitates trading with assets held outside a trading venue.

BitMEX CEO Stephan Lutz cited past failures including the FTX collapse and the Bybit hack: “Cases like the FTX collapse and the Bybit hack are examples of how custody failures or security threats can put client funds at risk.” He added that institutions trading digital assets should have access to custody arrangements similar to those in traditional finance.

The companies said the integration keeps custody and trading functions separate, reflecting a common structure in traditional finance where custodians hold assets and execution venues handle trades.

The integration is open to qualifying institutional and professional clients. Trades executed on BitMEX will use the mirrored collateral held at Zodia, while the actual assets remain in segregated vaults under Zodia’s control.

Firms managing large regulated portfolios may find the setup reduces settlement complexity and lowers capital drag from repeated transfers while keeping assets in a regulated custody environment.

BitMEX is a derivatives-focused exchange known for perpetual swaps and futures. Zodia provides institutional custody services globally and is backed by Standard Chartered.