Crypto Custodian Copper Reveals Processing of $500 Million in 3 Months
London-based crypto custodian services Copper on Thursday announced that it has processed $500 million worth crypto transactions on its platform since its launch in June.
The firm published the figures after registering 50 percent growth in month-on-month volumes in August.
“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,” Dmitry Tokarev, founder and CEO of Copper, said.
“Not only are we trusted by investors and funds to hold millions of dollars’ worth of their assets and facilitate their high-volume
trading needs – but our proven T-0 settlement time allow our customers to work their capital harder and potentially increase profit.”
Known for its high-end security, Copper offers digital asset custodial services to major investors and institutions. Earlier this year, the company revealed that it revamped the security protocols of its custodial service by adding “military-grade optical air-gapping” to ensure complete security of an offline repository of asset owners’ sharded keys during the transaction signing process.
“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,” Tokarev added.
In May, SWARM, a
crypto trading infrastructure provider, partnered with Copper for the custodian needs of its clients, Finance Magnates reported.
The Thursday’s announcement it is offering a variety of services including its multi-account, multi-currency trading platform and T-0 settlement solution to major clients like GSR.
“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,” Jakob Palmstierna, director of investment solutions at GSR, said.
“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.”