Copper, an institutional digital asset infrastructure provider, has joined forces with Hashnote, the on-chain first digital asset manager, built with the support of Cumberland and DRW, and will be providing custody support for Hashnote’s USYC on the Copper platform.
USYC, a Hashnote Short Duration Yield Fund product, is “an innovative financial vehicle that invests in short-term U.S. Treasury Bills and primarily engages in repo-reverse repo activities.”
It’s designed to offer tokenized short-term risk-free rate returns, “leveraging the benefits of rapid on-chain transaction speed, transparency, and composability.”
This approach eliminates “the majority of protocol, custody, regulatory, and credit risks typically associated with other token projects.”
This collaboration empowers users “to transform their stablecoins at rest into yield-generating assets without taking on any additional risks.”
With near-instant minting and redeeming (T+0 to T+1) into USDC, the integration ensures that while “generating on-chain yield, customers do not have to sacrifice the liquidity and efficiency of ERC-20 tokens.”
Copper’s custody solution brings peace of mind “to Hashnote USYC holders. Innovative security protocols ensure that while assets are actively yielding returns, they are concurrently under the safeguard of a leading digital asset custodian.”
Being part of the Copper platform “doesn’t just mean enhanced security; it also translates into increased accessibility and liquidity for Hashnote’s USYC.”
This integration connects users to a broader network of exchanges and financial services.
Copper’s institutional-grade security perfectly compliments Hashnote’s fully regulated and compliant fund structure, which is “registered in the US with the CFTC as a CPO for US customers and as a mutual fund with CIMA for non-US customers.”
Since being founded in 2018, Copper has been “building the standard for institutional digital asset infrastructure with a focus on custody and collateral management.”
Underpinned by technology, Copper has “built a comprehensive and secure suite of products and services required to safely custody and trade digital assets. At the core of Copper’s infrastructure is ClearLoop, which enables clients to manage collateral and settle trades in near real-time across multiple exchanges while mitigating counterparty risk and increasing capital efficiency.”
As noted in the update, Hashnote is the on-chain first asset manager.
Employing the best parts of blockchain technology “with the most trusted parts of traditional finance, Hashnote delivers transparent, secure, and simple on-chain investments to institutional and high-net-worth investors.”
Hashnote’s principals are professionals “with a combined 50+ years in traditional finance/banking, options trading, software engineering, and blockchain technology at global trading and investment companies.”
Hashnote builds what finance will “look like in ten years.”
Hashnote is built with the “support of DRW Holdings, one of the largest and most respected trading firms in the world, and Cumberland, the first and biggest institutional crypto OTC liquidity provider.”