Copper.co, one of the industry’s digital asset custodians, is announcing further growth of integrated blockchains with Stacks, a network that enables the creation of decentralized applications (dApps) and smart contracts on top of the Bitcoin blockchain.
Stacks reportedly combines “the strength, security, and capital of Bitcoin with the power of smart contracts and is the leading Bitcoin layer.” Through this integration, institutional clients gain the ability “to safely custody, trade, and leverage Stacking with all existing and future SIP-010 tokens on the Stacks blockchain.”
In addition to the integration, Copper claims it is leading the way “as the first major custodian to announce support for Stacks’ anticipated Nakamoto upgrade and sBTC, a decentralized and 1:1 backed Bitcoin asset expected to launch on the Stacks layer in 2024.”
Stacks already uses Bitcoin “as the secure and robust base layer where all transactions are settled, enabling complex applications and smart contracts.”
These expected upgrades will take that a step further, “allowing for ‘write’ access via sBTC as well as fast block times and 100% Bitcoin finality.”
Deploying Bitcoin to an L2 is one the biggest steps “to unlocking BTC’s $525B in capital and taking the chain beyond a simple ‘store of value’.”
Copper’s support is another strong indicator of “how the movement to build on Bitcoin has continued to gain momentum after Ordinals kicked off renewed interest in Bitcoin scaling solutions.”
This integration brings additional critical support “to innovative companies that are pioneering the Bitcoin ecosystem, including projects like ALEX, Sustainable Bitcoin Protocol, HireVibes, and more.”
With the Stacks integration, Copper clients now “have access to a wide range of exciting tokens built on the Stacks blockchain.”
Stacks uses ECDSA signature scheme, therefore any client “with ECDSA multichain shard can activate a Stacks wallet.”
Dmitry Tokarev, CEO at Copper.co, commented:
“Our integration of Stacks not only empowers institutional clients to safely custody and trade a variety of tokens on the Stacks blockchain but also enabled Stacking, which was met with immediate enthusiasm.”
Mitchell Cuevas, Director of Activation at the Stacks Foundation, commented:
“Copper’s integration is not just a great unlock for the Stacks ecosystem but also exciting validation for entrepreneurs who are building on Bitcoin. This year has seen renewed innovation within the Bitcoin ecosystem and this is another positive signal about the future of a Bitcoin economy powered by entrepreneurs building applications and services atop the chain.”