Daily rewards for USDe and USDtb held with Copper
The firm is building on its successful partnership with Ethena to enable institutional USDe and USDtb holders to earn rewards on assets held in Copper’s secure custody platform.
- Ethena uses a combination of Copper’s secure MPC custody and ClearLoop within its backing infrastructure to safeguard assets and mitigate counterparty risk.
- Clients holding USDe and the newly launched USDtb tokens will be able to earn daily rewards on assets held with Copper
- USDe and USDtb assets remain fully secure, accessible and segregated in users’ accounts leveraging Copper’s MPC custody.
TUESDAY, 17th December 2024 - Copper, a leader in digital asset custody, collateral management, and prime services, is pleased to announce that building on its partnership with Ethena, a major decentralized finance protocol, a part of USDtb’s backing assets will be custodied with Copper. Copper users who are holders of USDe and USDtb tokens will also be able to earn rewards by simply holding their tokens in Copper’s infrastructure.
USDtb, newly launched, is a stablecoin backed by BlackRock’s USD Institutional Digital Liquidity Fund Token, BUIDL, and Circle’s USDC. Read more.
USDe is a crypto-native synthetic dollar, with its peg stability supported using delta hedging derivatives positions on centralized exchange venues via Copper Clearloop. Since its launch in February 2024, USDe has amassed a market cap of over $5.7bn. To learn more about the key features, read our recent blog: Protect USDe margin collateral through ClearLoop.
Both USDe and USDtb rewards will be calculated daily with clients’ assets remaining at all times fully secure, accessible, and segregated in users’ accounts leveraging Copper’s MPC security model.
Ben Lorente, Strategic Alliances Director at Copper, commented: “Our clients are digital asset pioneers. They are eager to make the most of all the assets they hold within Copper, without compromising on security and accessibility. As such, we’re proud to have Ethena as a client and partner to innovate with."
“We’re thrilled to build upon our existing partnership with Copper, which has established itself as one of the most trusted and innovative custodians in our industry,” said Guy Young, founder of Ethena. “The launch of USDtb marks a significant milestone for our protocol, and we believe placing its backing assets within Copper’s award-winning custody infrastructure further reinforces USDtb’s position as one of the safest stablecoins on the market. We’re also excited that Copper’s institutional clients can now earn rewards on USDtb, and we look forward to capitalizing on additional opportunities to drive value for both our stakeholders and the entire Ethereum ecosystem.”
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Disclaimer
This is not an inducement to trade. The incentives being offered and which clients will receive in their Copper accounts are variable and subject to change.
About Ethena
"Ethena is a synthetic dollar protocol built on Ethereum that provides a crypto-native solution for money not reliant on traditional banking system infrastructure, alongside a globally accessible dollar denominated rewards instrument - the 'Internet Bond'."
For more information about USDe & USDtb, please visit: www.ethena.fi and www.usdtb.money
LinkedIn: Ethena Labs
Twitter: @ethena_labs
About Copper
Since being founded in 2018, Copper has been building the standard for institutional digital asset infrastructure with a focus on custody and collateral management. Underpinned by multi-award-winning technology, Copper has built a comprehensive and secure suite of products and services required to safely custody and trade digital assets. At the core of Copper’s infrastructure is ClearLoop, which enables clients to manage collateral and settle trades across multiple exchanges, while mitigating counterparty risk and increasing capital efficiency.
For more information, please visit: www.copper.co
LinkedIn: Copper.co
Twitter: @CopperHQ
Please direct any media enquiries or requests to: copper@portland-communications.com