Cryptocurrency Custody and Trading Solutions firm Copper launches market's first custodian-agnostic, scalable private digital asset settlement network。With more than 600 real-time participants, the network enables institutional clients to settle over-the-counter (OTC) transactions with all their institutional peers, regardless of where their assets are held.。

Copper OTC Settlement Network for Institutional Customers

Traditionally, market participants have relied on a variety of information applications and self-hosted transfer solutions, which has led to operational risks and challenges in scaling effectively。The Copper network is designed to simplify post-trade communications and workflows into a single settlement solution, thereby reducing the risks and operational inefficiencies faced by OTC settlement companies。

Shane O'Callaghan, global head of business development at Portofino, highlighted the transformative potential of the copper network, which allows for safe and efficient settlement with the entire customer base through a single, custodian-independent settlement network。

With Copper Network, participants can create private settlement networks, unify post-trade communications, take advantage of multiple settlement options, and increase market visibility。

"Copper Network is an important milestone as we continue our mission to be the primary gateway to digital assets for institutional investors."。We are developing the first custodian-agnostic settlement network in the ecosystem to provide market participants with the much-needed secure and efficient settlement track to continue to scale their business。

Copper's MPC custody has long provided a secure foundation for asset management。The launch of Copper Network enhances its suite of solutions and expands options for trade execution and settlement。

As a new liquidity center for institutional clients, Copper's OTC settlement network and ClearLoop provide liquidity to well-known exchanges and OTC platforms in the ecosystem.。Stef Wynendaele, vice president of Keyrock's market making business, emphasized the benefits of connecting to Copper Network, which provides customers with additional settlement methods to improve operational efficiency and safety。

Smart contracts and tokenized assets for institutional investors

It was earlier reported that Copper, led by former UK Chancellor of the Exchequer Phillip Hammond, has expanded its services into securities, targeting institutional investors by offering smart contracts and tokenized assets in traditional financial markets.。The move comes amid growing interest in digital assets by institutions and tech giants。

Copper Securities will initially offer custody and execution services and plans to add payment apps and securities financing services within a year.。Hammond, who joined the company as chairman in 2023, highlighted the need for the UK financial services sector to embrace distributed ledger technology.。Copper previously worked with Bitget and ended its partnership with State Street last year.。