Copper.co, the provider of digital asset custody, prime services and trading infrastructure to institutions, is reportedly becoming the first digital assets custodian “to support decentralized finance (DeFi) connectivity with Solana, the high-performance public blockchain ecosystem.”
The integration with Solana “provides Copper’s customers with the unique opportunity to connect with decentralized applications (dApps) in Solana’s fast and decentralized non-EVM blockchain ecosystem and enable them to transact securely under the protection of CopperConnect’s Multi-Party Computation (MPC) technology.”
CopperConnect provides seamless “access to Copper’s DeFi vault with dApps.”
CopperConnect was “launched in November 2020 as the first ever dedicated DeFi tool for over 600 of Copper’s institutional clients to lend, borrow, stake and swap tokens.” This new partnership with Solana “means that institutions using CopperConnect are now able to connect to dApps in the Solana DeFi ecosystem.”
Full, native integration has now been completed and “access to Solana’s DeFi ecosystem is up and running through CopperConnect.” The integration “means institutional users can now access assets and transactions on Solana’s DeFi platform which will be secured by MPC technology, eliminating the risk of a single-point-of-failure, and which will benefit from the highest level of safety and protection.”
Dmitry Tokarev, CEO, Copper.co commented:
“Copper is excited to be the first digital assets custodian to supply access to Solana’s DeFi ecosystem and partner with them in this inaugural launch. This is further validation that our product offering, in helping asset managers safely and securely acquire, trade and store cryptocurrencies, is uniquely innovative and we look forward to demonstrating to investors in Solana’s DeFi platform why we continue to be the leading custody provider in the space.”
Anatoy Yakovenko, Co-Founder, Solana, said:
“The launch of Copper’s digital asset custody provision will create new avenues for users and institutional investors to access DeFi and digital assets.”
Aman Bhalla, MD and COO Trading at GSR, commented:
” Through giving sophisticated, global digital asset users the opportunity to access one of the fastest and most efficient DeFi ecosystems for the first time, this collaboration between Copper and Solana supports continued digital asset development. GSR was delighted to help facilitate this partnership and wish both parties and their ecosystems success in taking advantage of the opportunities in liquidity and trading that will stem from this.”
Founded in 2018, Copper provides “a gateway into the crypto asset space for institutional investors by offering custody, prime brokerage, and settlements across 450 digital assets and more than 45 exchanges.”
It is “committed to providing flexible solutions for institutional investors that can adapt to the changing crypt-oasset space, while enabling far greater transparency and control for asset managers.”
Copper’s fully integrated products “are unique in the cryptoasset space.”
Underpinned by custody, Copper has “built the comprehensive and secure suite of tools and services required to safely acquire, trade, and store cryptocurrencies.”
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 has already “transformed the way in which institutional investors can engage in the cryptoasset space since launching in May 2020.”