HBAR Foundation and Copper partner furthering Hedera's institutional accessibility

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Aug 13, 2024, 12:39 ET

As part of the integration of the Hedera network, Copper will provide custody support for the HBAR token, with staking and DeFi transactions also supported.

LONDON, Aug. 13, 2024 /PRNewswire/ -- Copper.co, a leader in digital asset custody, collateral management, and prime services, is pleased to announce a partnership with Hedera, a decentralized, proof-of-stake public ledger that enables fast, low-cost, and secure transactions for real-world and digital assets. The partnership will broaden access to HBAR, and facilitate smoother entry for institutional investors into the Hedera ecosystem.

Hedera's native token, HBAR has been seamlessly integrated with Copper's award-winning institutional-grade technology, and Copper will provide custody services for HBAR and tokens following the Hedera Token Service (HTS) standard. As part of the integration, clients will be able to stake their HBAR to validators of their choosing, and perform DeFi transactions from Copper's MPC wallet infrastructure, via API and Copper's DeFi platform Copper Connect. HBAR will also be available for trading via ClearLoop, Copper's off-exchange settlement solution which provides secure digital asset custody to institutional clients while mitigating counterparty and insolvency risk.

Dmitry Tokarev, CEO of Copper, commented: "We're excited to share that Copper is providing enhanced custody services for the Hedera network. This is a valued partnership for us, and the full development stack integration is further testament of how we are providing robust custody solutions to our clients, and the importance ClearLoop and the Copper Network provides for institutional participants in the digital asset space."

Shayne Higdon, Co-Founder and CEO of the HBAR Foundation, commented, "With Copper's integration, institutional investors can now enter the Hedera ecosystem with greater ease and confidence. We're proud to partner with Copper and leverage its technology and security measures to bring advanced features to the Hedera Network. This partnership signifies a step forward for the Hedera ecosystem and the institutional crypto space more broadly, and we look forward to driving continued adoption in the industry."

This partnership follows several developments in the Hedera ecosystem that broaden institutional entry. Earlier this year, Archax, the first FCA-regulated digital asset exchange, broker, and custodian, tokenized its shares of the BlackRock ICS US Treasury Money Market Fund (MMF) on Hedera in partnership with the HBAR Foundation. This expansion builds on the previous launch of tokenized access to abrdn's MMFs, which Archax created on both the Hedera and Ethereum blockchains last year.

About Copper

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 multi-award-winning 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 across multiple exchanges, while mitigating counterparty risk and increasing capital efficiency.

For more information, please visit: www.copper.co

LinkedIn: Copper.co
Twitter: @CopperHQ

About Hedera
Hedera enables seamless tokenization of real-world and digital assets at scale, offering unmatched performance, security, and compliance for thriving tokenized economies. From regulated security tokens to NFTs, Hedera empowers efficient creation of diverse asset types, unlocking trillions in illiquid assets while providing enterprises and developers with robust tools to drive the evolution of financial markets.

For more information, please visit: https://hedera.com/

About the HBAR Foundation
The HBAR Foundation supports the creation of Web3 communities built on the Hedera network, by empowering and funding the builders developing these communities. The Foundation's six funds - focused on the Crypto Economy, Metaverse, Sustainability, Fintech, Privacy, and Female Founders - each support communities within those areas, and the interconnectedness enables applications to participate as part of a larger ecosystem.

The collective power of these funds enables entrepreneurs, developers, and enterprises of all sizes to tackle some of the world's largest problems, and create and control their own economies, all built on the Hedera public network. Whether you're building something new or migrating an existing EVM-based application and community, the HBAR Foundation is here to support you.

For more information, please visit https://hbarfoundation.org.

For media inquiries, please contact:

Copper.co: [email protected]

Hedera: [email protected] / [email protected]

SOURCE The HBAR Foundation