Blog

Insights & Updates

Market structure, institutional crypto, and off-exchange settlement, from the BridgePort team.

custody

Custodians vs. Exchanges: The Coming War Over Who Controls Institutional Assets

Exchanges need assets on platform. Custodians need them segregated. Institutions are caught between the two and paying for both. BridgePort CRO Zane Suren on why whoever captures the settlement layer captures the relationship.

Read

Crypto India Magazine Features Zane Suren on Market Infrastructure

Crypto India Magazine features BridgePort Chief Revenue Officer Zane Suren in the August 2026 issue of NARRATIVE, on pre-funding and the operational test for institutional adoption.

The Digital Assets Edge: BridgePort announces DAMA Working Group

The Digital Assets Edge reports that BridgePort has begun piloting the Digital Asset Master Agreement (DAMA), a common legal standard for off-exchange settlement between trading firms, custodians, and exchanges. The outlet covers DAMA's configurable template, the newly formed working group testing it across live relationships, and comments from CEO Nirup Ramalingam and CPO Steve Bartfield on why standardization matters

BridgePort Pilots Digital Asset Master Agreement for Off-Exchange Settlement

RegTech Insights reports that BridgePort is piloting the Digital Asset Master Agreement (DAMA), a reusable legal framework for off-exchange settlement between trading firms, custodians, and exchanges. The outlet breaks down how DAMA standardizes custody, settlement, operations, and default terms – while preserving room to configure agreements for individual counterparties. Read the full coverage on RegTech Insights.

Inside BridgePort's DAMA Pilot: A BitBullNews Q&A

BitBullNews reports that BridgePort is piloting the Digital Asset Master Agreement (DAMA), a shared legal standard for off-exchange settlement. In a Q&A with CPO Steve Bartfield, the outlet covers DAMA's governance model, treatment of venue insolvency, and BridgePort's 12–24 month timeline for making legal documentation a routine part of OES onboarding.

BridgePort Pilots Digital Asset Master Agreement (DAMA)

BridgePort is piloting the Digital Asset Master Agreement (DAMA), a shared legal standard for off-exchange settlement between trading firms, custodians, and exchanges. Inspired by the ISDA Master Agreement, DAMA replaces bespoke, months-long negotiations with a reusable framework covering custody, settlement, operations, and default terms – cutting onboarding time while letting counterparties tailor key provisions. BridgePort is now forming a working group for DAMA.

Crypto’s Prefunding Problem Is Killing Capital Efficiency

Every institution in crypto accepts something they'd never tolerate elsewhere: capital sitting idle on exchange just to access liquidity. BridgePort CEO Nirup Ramalingam draws a direct line to FX before CLS – and argues the industry's real constraint isn't regulation, it's infrastructure. Here's why the firms that solve this first will define the next phase of institutional crypto.

Squeezed and unconvinced, BTC traders reloaded shorts, ETH traders rebuilt longs

Crypto market structure analytics: issue #10 from Bridget and our CCO Chris Soriano examines how the April 14 short squeeze produced opposite responses in BTC and ETH derivatives markets. BTC traders on Binance rebuilt shorts to a 37.5% long-ratio low. ETH traders recovered to 63.9%. A 19-point divergence on the same exchange demands explanation.

‘$60 Billion Trapped’ – Inside The Plumbing Problem Kraken’s IPO Exposed

Forbes features our CEO Nirup Ramalingam in a discussion framed around Kraken's IPO filing. It argues that institutional crypto is volume-constrained not by demand or regulation, but by settlement infrastructure that is fifteen years behind every other asset class. Forbes came to BridgePort – as the settlement layer institutional crypto needs before the next wave of capital can enter – and that already has the support of major players.

The Ceasefire Landed, Crypto Didn't Look Up

Crypto market structure analytics: Bridget and Chris Soriano analyze in issue #9 long/short positioning across BTC, ETH, SOL and XRP through the April US-Iran ceasefire. One asset absorbed the macro narrative. Three ignored it. What that split means for trading firms using cross-asset positioning signals.

#8 BridgePort Crypto Analytics: The Dip Buyers Flinched

Issue 8: In October 2025, crypto traders came in short and bought the crash hard. In April, they came in max-long – and trimmed. Our AI Crypto analytics assistant, Bridget's long/short analysis across Binance and Bybit captures the moment the dip-buying reflex quietly shifted. The book is still long. But for the first time, it got lighter when it had every reason to get heavier.

#7 BridgePort Crypto Analytics: The Dip Buyers Who Wouldn't Quit

They Bought Every Selloff. Every Single One. The week of March 17 handed crypto traders two reasons to reduce risk. First the Fed held rates and revised inflation higher, sending BTC from $74,000 to $70,900 in hours. Then Iran escalated, oil pushed above $100, and the market sold off again. And again. And again. What the derivatives book has shown since is that traders responded to all of it the same way: they bought.

#6 BridgePort Crypto Analytics: How Events Shape Crypto Trading

The Derivatives Book Flinched. The Traders Behind It Didn't. On March 18, the Federal Reserve delivered exactly what crypto markets didn't want: an upward inflation revision and a dot plot anchored at one cut for 2026. BTC dropped from $74,000 to $70,900 within hours. We asked Bridget to skip the headline and read the positioning data.

Demystifying Tokenization: Industry Experts Discuss How the Technology Could Realistically Change What, When, and How We Trade

Curatia features our CCO & Co-Founder Chris Soriano in an industry roundtable discussing: is tokenization revolutionary or evolutionary? How will it impact asset classes differently? Could it exacerbate liquidity fragmentation? Who will benefit more from the technology — institutions or retail traders? Are vertically-integrated trading venues a path to efficiency or a peril?

BridgePort Appoints Zane Suren as Chief Revenue Officer

BridgePort, the institutional coordination layer for crypto off-exchange settlement, today announced the appointment of Zane Suren as Chief Revenue Officer. Suren will lead BridgePort's global revenue strategy, owning revenue and commercial architecture, pipeline development, and the build-out of the company's sales function as the network scales. Suren joins from Zodia Custody, the digital asset custodian backed by Standard Chartered Bank.

#5 BridgePort Crypto Analytics: The Floor Held. The Rally Didn't.

Last weekend, U.S. and Israeli strikes on Iran sent Bitcoin crashing to $63,000. By Wednesday it was touching $74,000. The narrative on both sides of that move was loud – panic sellers on the way down, euphoric buyers on the way up. We asked Bridget to ignore the narrative and measure the actual structure. What she found cuts through both camps.

BridgePort CEO on Crypto's Institutional Shift: Interoperability, infrastructure and capital

In this exclusive interview, Nirup Ramalingam spoke about his transition from traditional finance (TradFi) to Web3. He also shed light on the crucial need for institutional-grade interoperability between exchanges and custodians, and why the next wave of capital relies on robust infrastructure rather than fleeting market hype.

#4 BridgePort Crypto Analytics: The Costly Hold?

SOL is down on the week. The funding market is screaming that shorts are winning. Yet the majority of traders haven't moved. We asked Bridget to look past the price action and measure what's actually happening beneath the surface of the SOL market this week. What she found is one of the clearest examples of conviction versus market signal we've seen in recent memory. Are the longs right to hold, or are they just not paying attention?

Prime Brokers Offer the Catalyst Crypto Traders Have Been Searching For

When Standard Chartered announced plans to establish a crypto prime brokerage through its SC Ventures unit, it became the latest example of traditional finance bringing institutional-grade infrastructure to digital assets. The move highlights how crypto traders are finally gaining access to the flexible, multi-faceted services that have been standard in traditional markets for decades.

#3 BridgePort Crypto Analytics: Where Did the Walls Go?

The crypto market has been grinding lower, and the prevailing headline is that liquidity has disappeared. We asked Bridget, to look past the macro panic and measure the actual order books.

#2 BridgePort Crypto Analytics: The 'Ghost Liquidity' Index

In crypto, we are taught to 'Follow the volume'. The logic is simple: High Volume = High Liquidity. But last week, Bridget flagged a structural warning sign. We compared the 'Active Flow' (volume) against the 'Passive Walls' (depth) and found a massive disconnect.

The Bridget Blog

Everyone is talking about the recent price crash, but they are ignoring the quality of the volume. We analyzed the market structure during the drop using Bridget, our AI analytics tool

BridgePort Unveils Analytics Package

Discover BridgePort's new Crypto Market Intelligence analytics package. Optimize trading with AI-powered insights into fragmented crypto markets.

BridgePort launches exchange intelligence

Discover BridgePort's new Crypto Market Intelligence platform, offering unparalleled insights into exchange performance and execution quality.

BridgePort Launches BridgePort Analytics with AI-Driven Exchange Intelligence Assistant

BridgePort, the middleware coordination layer for off-exchange settlement (OES) in institutional crypto, has launched BridgePort Analytics, an exchange intelligence platform designed to support institutional trading firms operating in OES environments. The platform includes Bridget, an AI-powered assistant that allows users to query execution and venue data using natural language.

BridgePort Launches AI-Driven Crypto Exchange Intelligence to Guide Execution and Off-Exchange Settlement Decisions

BridgePort, the middleware coordination layer for institutional crypto off-exchange settlement (OES), today announced the launch of BridgePort Analytics featuring Bridget, an AI-powered exchange-intelligence analyst that helps institutions optimize execution and settlement decisions across fragmented markets.

Anchorage Digital selects BridgePort

Anchorage Digital, a crypto platform that provides institutions with integrated financial services and custody solutions, has selected institutional middleware provider BridgePort to provide the coordination layer to facilitate access to traditional and non-custodial execution venues looking to offer digital asset trading services to their clients through Anchorage's Atlas Network.

Secure Crypto Custody Services

In the fast-evolving world of digital assets, security is paramount. Institutional players demand robust solutions to protect their investments. Digital asset custody options have become a critical component in safeguarding crypto holdings. I will walk you through the essentials of these options, their importance, and how to choose the right service to ensure your assets remain secure and accessible.Understanding Digital Asset Custody OptionsDigital asset custody options refer to the various met

Lessons From FX For Institutional Crypto Trading

e-Forex speaks with Nirup Ramalingam, CEO of BridgePort who talks about some of the valuable and important lessons that the Institutional Digital Asset marketplace can learn from the way the FX trading market has evolved.

BridgePort CEO Eyes Off-Exchange Settlement to Reduce Crypto Trading Risks

BridgePort is addressing institutional crypto trading vulnerabilities by connecting exchanges to custodians through middleware technology that eliminates the need for firms to pre-fund assets on multiple trading venues, according to CEO Nirup Ramalingam

Stablecoins and crypto are having their Bretton Woods moment

A new financial architecture is forming underneath the world's largest pools of capital. The winners will be those who recognize that standards built now will define economic value transfer for a generation

BridgePort To Build Real-Time Variation Margin Settlement Application on Canton

BridgePort, the institutional coordination layer streamlining the off-exchange settlement of crypto, today announced that it is building a real-time variation margin settlement application designed to improve how counterparties manage collateral and margin obligations for bilateral derivatives. The application is being developed on the Canton Network

A New Chapter for Crypto: The CFTC’s Initiative and the Path to Institutional Maturity

The CFTC's "Listed Spot Crypto Trading Initiative" aims to establish a clear regulatory framework and market structure for institutional crypto in the U.S, but it has also created divided opinions on how the industry should move forward, writes Nirup Ramalingam, CEO and Co-Founder of BridgePort. The debate centers on whether to use the CFTC's existing powers under the Commodity Exchange Act or pass new, comprehensive legislation

Open Interest Is The Odometer Of Institutional Crypto

The loudest crypto story in 2025 is not actually memecoins, digital asset treasury companies, or even crypto company IPOs. It is the migration of risk, collateral, and price discovery onto regulated rails. You can see it in one metric that is hard to fake: open interest (“OI”) on CME.

BridgePort's Middleware Chosen For Crypto Finance Off-Exchange Settlement Solution

Crypto Finance, part of Deutsche Börse Group, announces the launch of Crypto Finance AnchorNote, a custody-native pledging solution to enable off-exchange settlement and yield enhancing services by acting as the collateral custodian. The solution deploys BridgePort as the middleware service provider for off-exchange settlement

BridgePort and Crypto Finance Offer Off-Exchange Settlement

Using BridgePort's middleware, Deutsche Börse Group’s Crypto Finance has launched AnchorNote, which enables institutional clients to trade digital assets across multiple venues without moving assets out of custody, which improves capital efficiency and security

SOC 2 Type 1

BridgePort Achieves SOC 2 Type 1 Compliance. A milestone advances our long-term security strategy.

Stablecoins Are Treasury Arbitrage, Not Sabotage

Stablecoins are playing a bigger role in U.S. Treasury markets than many realize. In this op-ed, BridgePort’s CEO explains how — and why it matters.

Fragmentation and Walled Gardens Don't Scale For Institutional Trading

While crypto's explosive growth often dominates headlines, its journey to institutional maturity faces a significant, yet often overlooked, challenge: extreme liquidity fragmentation. In a compelling new article for e-Forex, BridgePort's Chief Commercial Officer, Chris Soriano, dives deep into this "great crypto liquidity fragmentation problem" and lays out a clear path forward.

Broker? Exchange? Clearing? In Crypto, It's All One Swiss Army Knife

In crypto, one platform often tries to do it all – broker, custodian, venue, and settlement layer. It's the 'Swiss Army Knife' approach. But what scales early adoption doesn't always scale institutional demand. Discover why specialization, not consolidation, is crypto's true path to scale

BridgePort Appoints Steven Bartfield as Chief Product Officer

BridgePort named Steven Bartfield Chief Product Officer. With 15 years of experience in institutional trading, market structure, and fintech—from Goldman Sachs’ Credit Market Structure Strategy to CME Group and AI-driven data platform—Bartfield will drive BridgePort’s product roadmap. His focus: deepen enterprise integrations, accelerate agentic AI, and deliver transparent, automation-first infrastructure for institutional crypto trading. He holds an MBA from Wharton and is a CFA charterholder.

The "morning run" and the evolution of FX trading

From "morning runs" to modern screens, FX evolved. Now, crypto faces similar growing pains, building "walled gardens" instead of embracing efficiency. We've seen this story: liquidity finds a way. Is your strategy ready for inevitable market evolution, or will you be left behind?

BridgePort Raises $3.2M to Scale its Middleware for Off-Exchange Settlement

BridgePort has raised $3.2 M in seed funding led by Further Ventures, with backing from Virtu, XBTO, Blockchain Founders Fund, Fun Fair Ventures, and Humla Ventures. The platform provides agnostic middleware for off-exchange settlement, eliminating prefunding and credit risk through real-time messaging and coordinated collateral management, enhancing capital efficiency and interoperability.

BridgePort Launches its Middleware for Institutional Crypto Off-Exchange Settlement

BridgePort has announced the launch of its groundbreaking middleware platform, designed to enhance institutional crypto trading and settlement. Supported by industry leaders like Virtu, XBTO, Blockchain Founders Fund, Fun Fair Ventures, and Humla Ventures, the platform introduces essential off-exchange settlement infrastructure, connecting execution venues and custody providers for pre-order asset allocation and post-trade settlement.

Talk to our team