Crypto Custody Firm Copper Launches New Settlement Network for Institutional Clients
Copper, a crypto custody firm, has introduced the Copper Network, a settlement network designed for institutional clients involved in trading and holding digital assets. The platform is custodian-agnostic, scalable, and private, making it the first of its kind in the industry. With the Copper Network, institutional clients will be able to settle their over-the-counter (OTC) trades with all counterparties, regardless of where they store their assets.
A Gateway for Institutional Finance
Dmitry Tokarev, the Founder and CEO of Copper, stated that the new platform aligns with their goal of becoming the primary gateway to digital assets for institutional investors. The Copper Network provides secure and efficient settlement rails to scale businesses. It unifies post-trade communications and workflows into a single settlement solution, improving upon existing transfer networks.
Shane O’Callaghan, Portofino Global Head of Business Development, emphasized the transformative impact of the custodian-agnostic Copper Network on their OTC business as it continues to grow.
This announcement follows Copper’s recent launch of a digital assets brokerage platform for institutional trading in the United Arab Emirates.
Hot Take: Copper Revolutionizes Settlement for Institutional Crypto Trading
Copper’s introduction of the Copper Network marks a significant milestone in the world of institutional crypto trading. By providing a custodian-agnostic settlement network, Copper enables institutions to securely and efficiently settle their OTC trades with various counterparties. This innovative solution simplifies post-trade communications and workflows while offering scalability and privacy. As Copper aims to become the primary gateway to digital assets for institutional investors, this new platform positions them as a leading player in the market. With their ongoing developments and expansions into new regions like the United Arab Emirates, Copper is revolutionizing the way institutions engage with digital assets.
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