London - On August 13, Copper.co, known for its digital asset custody, collateral management, and prime services, announced a partnership with Hedera, a decentralized, proof-of-stake public ledger. This collaboration aims to enhance accessibility to HBAR and simplify institutional investor entry into the Hedera ecosystem.
Copper's institutional-grade technology now supports Hedera’s native token, HBAR, offering custody services for both HBAR and tokens following the Hedera Token Service (HTS) standard. The integration allows clients to stake HBAR to selected validators and engage in DeFi transactions through Copper’s MPC wallet infrastructure, accessible via API and Copper’s DeFi platform, Copper Connect. Furthermore, HBAR will be available for trading through ClearLoop, Copper’s off-exchange settlement solution, which ensures secure digital asset custody for institutional clients while reducing counterparty and insolvency risks.
Dmitry Tokarev, CEO of Copper, stated, "The provision of enhanced custody services for the Hedera network represents a significant partnership for us. With this integration, we reinforce our commitment to delivering robust custody solutions to our clients, highlighting the critical role ClearLoop and the Copper Network play in the institutional digital asset sector."
Shayne Higdon, Co-Founder and CEO of the HBAR Foundation, added, "Copper's integration provides institutional investors with easier and more confident access to the Hedera ecosystem. We take pride in this partnership, which enhances the Hedera Network with Copper’s technology and security. This collaboration marks progress for both the Hedera ecosystem and the broader institutional crypto market, and we anticipate fostering ongoing industry adoption."
This partnership follows recent developments within the Hedera ecosystem to facilitate institutional participation. Earlier this year, Archax, the first FCA-regulated digital asset exchange, broker, and custodian, tokenized shares of the BlackRock ICS US Treasury Money Market Fund (MMF) on Hedera in collaboration with the HBAR Foundation. This initiative expands upon the prior launch of tokenized access to abrdn’s MMFs on the Hedera and Ethereum blockchains last year.
