Copper, a London-based custodian for digital assets, announced that since launching its infrastructure in June, it has processed over $500 million in transactions, growing each month.
The company provides digital asset safeguarding for multiple funds and investors operating a full range of investment strategies.
Presently, clients such as GSR, a large market-maker and liquidity provider for digital assets, have integrated Copper’s multi-account, multi-currency trading platform, and T-0 settlement solution.
As the firm moves towards fiat custody and settlement, it has also agreed to work with Signature bank to provide T-0 USD settlement.
“The secure repository and trading of digital assets is imperative for facilitating institutional adoption. GSR services the trading needs of counterparts when they are entering and exiting risk trades, or when they require bespoke risk exposures. It is encouraging for us to see the growth of this type of settlement infrastructure in the crypto industry. Copper has been at the forefront of this development when it comes to robustness and security.”
– Jakob Palmstierna, director of investment solutions, GSR
Also recently, Copper announced in May that it was selected by SWARM, an infrastructure provider for the issuance and trading of digital assets, to integrate Copper’s technology.
“Although we expected to see a gradual uptake in execution and settlement volumes across our clients, it’s really heartening to see such a rapid increase in engagement. We are working on other unique services which will give our institutional customers additional tools to engage with the digital asset markets which we expect to go live in Q4.“
– Dmitry Tokarev, Founder & CEO of Copper
Earlier this year, Copper added military-grade optical air-gapping to its custody service. This enhancement ensures the complete security of an offline repository of asset owners sharded keys during the transaction signing process.