HBAR Foundation and digital asset custody provider Copper have announced a collaboration aimed at expanding institutional access to the Hedera ecosystem.
As part of the partnership, Copper will provide custody support for Hedera (HBAR) cryptocurrency and enhance the blockchain network’s decentralized finance capabilities through staking. The collaboration with Copper will also expand institutional access to HBAR and the Hedera Token Service, according to the details. press release.
Copper customers can participate in HBAR.
Institutional investors can now stake their HBAR through verifiers of their choice, using Copper’s DeFi wallet infrastructure. The partnership also provides institutional access to HBAR trading through ClearLoop, Copper’s multi-exchange settlement solution.
Copper customers who hold funds in a decentralized financial vault will be able to interact with Hedera decentralized exchanges like SaucerSwap Labs, and access the HBAR and HTS tools. This functionality will be available through the Ethereum-compatible Copper Connect.
“With the integration of Copper, institutional investors can now enter the Hedera ecosystem with greater ease and confidence,” said Shane Higdon, co-founder and CEO of HBAR.
Higdon added that Hedera will leverage Copper’s technology and security to support Hedera’s growth in the crypto space.
Commenting on the integration, Copper CEO Dmitry Tokarev said: He said:
“This is a valuable partnership for us, and the full integration of the development suite is another testament to our shared commitment to providing robust custody solutions for institutional participants in the digital asset space.”
HBAR’s collaboration with Copper adds to a number of key developments within the Hedera ecosystem aimed at advancing the entry of proof-of-stake blockchains into institutions. This includes a partnership with FCA-regulated platform Archax to tokenize BlackRock’s money market fund on Hedera.
Archax is also the company that launched tokenized access to abrdn money market funds on both Hedera and Ethereum in 2023.
Comments are closed, but trackbacks and pingbacks are open.