Bitstamp Announces, the Institutional Gateway to Crypto Investing, as Additional Custody Provider

Bitstamp, which claims to be the longest-running crypto exchange, has announced, the institutional gateway to crypto-asset investing, as an additional custody provider.

Copper’s crypto custody solution should allow Bitstamp to provide a new set of crypto-assets to its clients across the globe, beginning with Cardano (ADA), which is now the fourth largest cryptocurrency.

Bitstamp’s clients in Europe will be able to “start trading Cardano this Friday,” according to an update shared with Crowdfund Insider.

This strategic partnership “demonstrates Bitstamp’s commitment to global expansion and marks the continued growth of its customer-centric offerings.” As demand increases, Bitstamp continues to “provide its users access to the ever expanding market,” the update noted.

With reliable custody, and an Aon brokered crime insurance policy, Copper aims to provide a “reliable and mature partner to Bitstamp, offering the industry gold-standard in digital asset engagement.”

Copper’s secure custody uses Multi-Party Computation tech. With MPC, key shards are “formed simultaneously and in isolation, one shard each is entrusted to the client, their trusted third party, and Copper.”

These shards allow transactions to be “signed online without the risk of private key exposure because there is no longer one private key,” the announcement explained. This largely “eliminates the risk of key exposure in online transactions.” More than 400 institutions are now custodying their crypto-assets with Copper, which supports around 450 different tokens.

Julian Sawyer, Global CEO of Bitstamp, stated:

“Partnering with the most trusted providers in the industry allows us to better fulfill our obligation of providing the most reliable products and services. By expanding our custodial services through Copper, we will be able to continue to offer secure access to more digital assets.”

Dmitry Tokarev, CEO of Copper, remarked:

“At a time when we are seeing a surge in institutional adoption of digital assets, we’re proud to be collaborating with Bitstamp, which is committed to best-in-class service. Our multi-award-winning crypto custody provides secure access to the world’s most important digital assets and we are pleased Copper’s technology was chosen to broaden the range of digital assets Bitstamp can offer its customers.”

This partnership is a continuation of Bitstamp’s “commitment to expansion,” the announcement noted.

In July 2021, Bitstamp confirmed a partnership with Paragon International Insurance Brokers in order to “add an extra layer of security to users’ digital assets.” In October of this year, the exchange teamed up with ZEBEDEE to “allow gamers the ability to utilize Bitcoin as part of the gaming ecosystem.”

As previously reported, Bitstamp serves as the “longest-running” cryptocurrency exchange, “supporting investors, traders and leading financial institutions since 2011.”

With an established track record, robust market infrastructure and commitment to personal service with a human touch, Bitstamp’s secure and reliable trading venue is “trusted by over four million customers worldwide,” the company claims.

Whether it’s via its web platform and mobile app or APIs, Bitstamp is “where crypto enters finance.”

Established in 2018 by Dmitry Tokarev, Copper offers a gateway into the crypto-asset space for institutional investors by providing custody, prime brokerage, and settlements across 450 digital assets and over 45 exchanges.

It is committed to “providing flexible solutions for institutional investors that can adapt to the changing crypto asset space, while enabling far greater transparency and control for asset managers.”

As mentioned in the update, Copper has developed a comprehensive and secure suite of tools and services “required to safely acquire, trade, and store cryptocurrencies, including access to margin lending trading facilities and the DeFi space.”

At the core of Copper’s infrastructure is ClearLoop, a framework that “connects the universe of exchanges in one secure trading loop — with real-time settlement across the Networks.”

Integrated with spot and derivative crypto exchanges, ClearLoop aim to transform “the way in which institutional investors can engage in the crypto asset space since launching in May 2020.”

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