Crypto custody company Copper on Thursday launched a new payments network for institutional clients involved in trading and holding digital assets.
The platform, called Copper Network, is custodian-agnostic, scalable and private, and is what the cryptocurrency custody company said is an “industry first.”
The digital asset company added that the new network will give a growing number of institutional clients the ability to settle OTC transactions with any counterparty, regardless of where they store their assets.
Gateway to Institutional Finance
Copper founder and CEO Dmitry Tokarev said the new platform will allow the company to continue its ambition to become the primary gateway to digital assets for institutional investors.
“We have developed the ecosystem’s first custodian agnostic payment network that provides market participants with the secure and efficient payment rails they need to continuously scale their businesses,” Tokarev told The Block.
Explaining the benefits of the new network, Copper said it will unify post-trade communications and workflows into a single payment solution. This is an upgrade to the basic transport network currently utilized by most market participants.
“The Copper Network is custodian-agnostic, giving us the ability to securely and efficiently make payments with our entire customer base through a single payment network. This will prove to be transformational as we continue to grow our OTC business throughout 2024. ,” said Portofino Global Director. Business Development Shane O’Callaghan said:
This news comes after Copper announced its launch. Digital asset brokerage platform for institutional trading United Arab Emirates in November.
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