Crypto institutional middleware for off-exchange settlement. BridgePort's coordination layer connects exchanges and custodians for trading firm interoperability
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BridgePort is redefining off-exchange settlement with purpose-built middleware
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Why Abu Dhabi
Abu Dhabi Global Market set out its first digital asset framework in 2018, years before most regulators had a position at all.
What that bought was clarity, and clarity is the actual product a regulator sells to anyone deciding where to build. Infrastructure is a ten, twenty, fifty year bet, which is hard to justify against rules that might still move.
ADGM's early position is a large part of why firms are choosing the emirate now, and the consistency of the FSRA's approach in the years since is why the market has taken it seriously.
@surensview Zane Suren, BridgePort's Chief Revenue Officer, sat down with @FINTECHTVglobal
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How do you scale institutional digital asset trading without pre-funding drag?
You separate execution, custody, and settlement into a single, coordinated stack.
As shown in our modular assembly animation, building a resilient market structure comes down to three distinct layers operating in harmony:
🔒 03 — Institutional Vaults (Custody)
Store | Pledge | Settle
Assets stay safely in regulated custody without needing to be moved or tied up on individual exchange balance sheets.
⚡ 02 — Coordination Layer (BridgePort Middleware)
Credit Allocation | Messaging | Settlement Trigger
The orchestration engine that handles real-time credit checks, instant messaging, and automated settlement triggers behind the scenes.
📈 01 — Exchanges & Venues (Execution)
Order Book | Matching Engine | Venue Feeds
Venues focus on what they do best - deep liquidity, fast matching, and price discovery without taking on custodial risk.
When execution, middleware, and custody connect seamlessly, you eliminate counterparty risk and unlock total liquidity.
BridgePort Off-Exchange Settlement. Unleash Your Capital.
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@surensview Zane Suren, BridgePort's Chief Revenue Officer, sat down with @FINTECHTVglobal
Technology is not the only thing standing between a firm and a venue. Even when the plumbing works and the regulator is satisfied, the lawyers are not.
Every off-exchange relationship still opens with a triparty negotiation covering dispute resolution, settlement frequency, collateral treatment and default. Two to six months is a normal round, the same negotiation restarts with each new counterparty added to the picture, and almost none of the work carries over.
The Digital Asset Master Agreement is our answer to treating that as a per-relationship problem. DAMA uses existing ISDA documentation as a base and standardizes the terms that rarely need to differ. A working group of trading firms, custodians and exchanges is forming to pilot it across live relationships.
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The figure that circulates for the industry is $60 billion sitting idle across pre-funded exchange accounts. Our own view is that the real number is higher.
The reasoning is structural. A desk trading eight venues pre-funds all eight, and it is not working all eight at once. It funds them because it might need to, and the cost of being ready is paid every day whether the opportunity arrives or not. Most of that capital is doing nothing most of the time.
Pre-funding is not a fee that shows up on a statement. It is working capital that cannot do anything else for as long as it sits there.
@surensview Zane Suren, BridgePort's Chief Revenue Officer, sat down with @FINTECHTVglobal
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Institutional crypto doesn’t just need more adoption. It needs better infra.
Our CRO, @surensview Zane Suren, was invited by @CryptoIndiaMag to contribute to a Q&A on what needs to happen for digital assets to scale institutionally.
The discussion covers the hidden cost of pre-funding, off-exchange settlement, better connectivity and the need for common legal frameworks such as DAMA.
These are exactly the market-structure challenges @BridgePort is working to solve – helping institutions keep assets securely with their custodian while accessing trading venues more efficiently.
As Zane puts it: “We’re closer to it than the ‘two years away’ crowd thinks, because the plumbing is being built right now.”
It’s a thoughtful piece on where the market is today, what still needs to change, and why the next phase of institutional adoption will be shaped as much by infrastructure as by appetite.
👉 Read the full Q&A here bridgeportmq.com/post/crypto…
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Today we're announcing that BridgePort is piloting the Digital Asset Master Agreement (DAMA) – a shared legal standard for off-exchange settlement (OES) relationships between trading firms, custodians, and exchanges.
We decided to to do this because we kept hearing the same bottleneck from the market: every new OES relationship means renegotiating custody, settlement, operations and default terms from scratch. As an agnostic connectivity layer between exchanges, trading firms, and custodians we're positioned to lead the standard the whole market needs.
And, because we have the team that understands what needs to be done:
Nirup Ramalingam @NirupRam: "The infrastructure for off-exchange settlement is largely in place. The next phase of this market depends on standardizing the legal foundation beneath it, as has happened in every institutional market before. A shared standard lowers the barrier to entry and gives the market room to scale. DAMA will give the industry that foundation."
Steven Bartfield @stevebport: "Financial markets become more efficient when participants can rely on common standards. Widely adopted frameworks create incentives for market participants, law firms, and industry organizations to develop shared legal analysis, operational expertise, and market practices that can be leveraged across the ecosystem – rather than recreated for every new relationship."
Read our full release in the comments
We're forming a working group of trading firms, custodians, and exchanges to pilot #DAMA. Link to the dedicated site in the comments below, register your interest to join 👇
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BridgePort retweeted
NEW Episode of The Market Runup is live.
Co-founder and CCO at @BridgePortMQ, Chris Soriano digs into the market structure shift that's been quietly reshaping how institutions actually move capital in crypto.
We covered:
- How pre-funding requirements have locked up billions in dead capital.
- Why the FTX collapse rewired institutional thinking around counterparty risk, custody, and transparency.
- Plus: What role Bridgeport wants to play when people look back at this era of market infrastructure.
TIMESTAMPS
00:00 - The Knicks and the NBA Finals Hysteria
01:41 - Shifting Focus: From Tokens to Market Structure
04:34 - Inefficiencies in Crypto Markets
09:48 - Post-FTX Institutional Psychology
12:45 - The Evolution of Crypto Market Structure
16:24 - Bretton Woods and Financial Architecture
19:15 - Comparing TradFi and Crypto
23:35 - The Future of Crypto Trading
Links below
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Every time a new OES relationship is established, the same legal questions need to be resolved. Currently, there is a lack of standard answers. The questions mostly focus on three areas:
The first is what happens to pledged assets in the event of exchange failure. Inevitably, this is the one teams are rightly focused on for every counterparty relationship they enter, across every agreement type. OES agreements are being written in that environment, and the answers in most current contracts are not as clear as they should be.
The second is disputes. What is the process when counterparties disagree on a settlement? Most current agreements are vague. Vague means slow, and slow is expensive, particularly for operational teams who deal with this more often than legal teams anticipate.
The third – is agreeing standard definitions – before any of the more complex negotiations can even be resolved.
While these are edge cases – operationally speaking – they are foreseeable scenarios that every OES agreement will eventually face. The fact that each gets negotiated differently, every time, from scratch, is where a significant amount of time and money disappears.
At BridgePort, every day we think about how to reduce risk, and costs, for market participants throughout the trade lifecycle. It's one reason we built our company – to remove the risk of losing capital to rather avoidable issues and ensuring it was always secure.
It's also one of the reasons we want to ensure the market has a shared legal language too – because sophisticated markets should, and they operate better when they do.
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Building BridgePort has reminded us all how young the digital asset market actually is. We know that exchanges want more institutional volume, custodians want the connectivity and trading firms want more control over their capital. The conversations we have every week confirm there is no shortage of appetite, or understanding for off-exchange settlement which delivers on those goals for everyone.
As crypto trading firms are embracing off-exchange settlement adoption, they are after everything that more mature asset classes figured out a long time ago: legal standardization across venues to avoid duplicative upfront and ongoing onboarding cost burdens.
In OES every new relationship requires a bespoke agreement between three parties, negotiated from scratch, with no shared framework to start from. In most mature asset classes, this legal strain was solved a long time ago.
Institutional crypto is working through it now. We believe there is a better way to do achieve this objective. And, crucially with a team that has designed market structure solutions already in FX and FI – we know how to do it.
More to come.
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Last week we announced our partnership with 3DX, 360T's MiCAR-regulated institutional crypto trading platform, part of Deutsche Börse Group.
BridgePort exists to solve a real problem: institutional firms trading crypto while carrying unnecessary settlement risk and capital inefficiencies.
📢 As Carlo Kölzer, CEO of 360T and Head of FX and Digital Assets of Deutsche Börse Group, commented: "We are excited to integrate BridgePort’s middleware, enhancing the options available to our clients. In line with our commitment to provide convenient crypto solutions, this collaboration extends 3DX’s capabilities, offering even greater flexibility in managing assets and optimizing capital efficiency."
Being selected to solve off-exchange settlement for 3DX and their clients is a partnership we are ready for and look forward to delivering on.
We will be in production shortly and look forward to delivering a seamless execution and settlement functionality together.
Full press release below.👇
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BridgePort retweeted
INTERVIEW: At Consensus HK 🇭🇰 2026, we sat down for an exclusive interview with Nirup Ramalingam, CEO of BridgePort.
Nirup talked about solving multi-custodial bottleneck and also explained how off-exchange settlement is mitigating counterparty risks.
cryptoindiamagazine.com/brid…
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BridgePort CEO @NirupRam connected with @Bloomberg and shared his views on the impact of 24/7 trading during moments of volatility and data from BridgePort Analytics demonstrating the difference between the cost of a trade and the liquidity available over the weekend versus during the week.
Check out BridgePort Analytics and its accompanying AI agent, Bridget in the comment
And see the full story linked in the comment
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We at @BridgePortMQ launched BridgePort Analytics last month to focus on quality on execution. We used Bridget to provide @business
with insights noted in the article
While there are many narratives around the catalysts for the downturn, analyzing execution is like studying DNA evidence - it tells its own empirical based story
Bitcoin’s months-long slide has masked a change at the heart of its 24/7 market: trading never stops, but the liquidity that steadies prices still follows US market hours. bloomberg.com/news/articles/…
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BridgePort Launches AI-Driven Crypto Exchange Intelligence to Guide Execution and Off-Exchange Settlement Decisions
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How This Helps Our Customers & Partners
"As more trading moves to OES, institutions need a clear understanding of how each venue performs under real conditions," said @NirupRam, CEO of BridgePort. "BridgePort Analytics gives firms objective execution-quality data they can use to allocate credit, build routing logic, and manage settlement risk across venues. It extends our role as the coordination layer for institutional trading by showing where real execution quality exists, helping firms rebalance more precisely and reduce the amount they must distribute across exchanges to stay competitive within an OES framework.”
BridgePort Analytics is powered by institutional-grade data feeds from partners that cover over 400 global exchanges and nearly one million trading symbols. The platform ingests real-time and historical order-book depth, trade data, market-microstructure signals, and the latest crypto-market news to deliver objective execution-quality metrics, size-specific venue behavior, and liquidity insights across global markets. These inputs create a unified intelligence layer that supports routing decisions, capital allocation, and settlement workflows for institutional traders.
“We’re working to make many markets behave like one market," said @stevebport, CPO of BridgePort. "Fragmentation has forced traders into separate workflows for every exchange. BridgePort OES addresses that by shifting settlement risk away from venues, BridgePort’s Pledging enables firms to hold and allocate capital from a Custodian without pre-funding, and now BridgePort Analytics gives traders a unified layer of execution intelligence and venue behavior so capital can be deployed with far greater precision across markets."
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The market intelligence assistant is available, with core features available for free and advanced analytics accessible through approved accounts. To learn more and try BridgePort Analytics and the Bridget assistant yourself, please visit: Bridgeportmq.com/Analytics
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