Copper, a firm focused on digital asset custody, collateral management, and prime services has partnered with Circle, a global financial technology company and stablecoin market participant, to bring expanded USDC functionality to institutional clients “using Copper’s ClearLoop off-exchange settlement solution.”
Their partnership with Circle allows Copper clients to “convert off-exchange balances into USDC and use the stablecoin for trading and settlement across connected exchanges, without moving assets out of Copper’s secure custody solution.”
By combining ClearLoop with USDC, “a digital dollar, fully-backed by highly liquid cash and cash-equivalent assets, institutions can benefit from greater capital efficiency and faster trade execution.”
Ben Lorente, Strategic Alliances Director at Copper commented:
“Together, Copper and Circle are committed to providing flexible trading options with USDC that can be used within Copper ClearLoop which enables clients to manage collateral and settle trades across multiple exchanges, while mitigating counterparty risk and increasing capital efficiency.”
Sanja Kon, VP of Partnerships and Business Development, Europe at Circle.
“Circle and Copper remain committed to building trusted infrastructure. This further integration of USDC into Copper’s platform will help streamline settlement and unlock new utility for USDC across exchanges.”
As covered, Circle is a global financial technology firm that “enables businesses of all sizes to harness the power of digital currencies and public blockchains for payments, commerce, and financial applications worldwide.”
Circle is building the global stablecoin network, and issues, “through its regulated affiliates, USDC and EURC stablecoins.”
Circle provides a suite of financial and technology services “that empower enterprises and developers to integrate stablecoins and blockchains into their products, services and business operations.”
Since being founded in 2018, Copper.co has been “building the standard for institutional digital asset infrastructure with a focus on custody and collateral management.”
Underpinned by innovative 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 reportedly enables clients to “manage collateral and settle trades across multiple exchanges, while mitigating counterparty risk and increasing capital efficiency.”
