Copper unveils new strategic vision to “power the future” of Tokenized Money-Market Funds

• Clients are now able to hold money-market fund tokens in Copper’s institutional-grade MPC custody
• Move underpinned by major new partnerships with Securitize (BUIDL), Franklin Templeton (BENJI), Ondo, Hashnote and Superstate
• Strategic vision to accelerate the distribution of money-market fund tokens follows the recent appointment of Amar Kuchinad as Global CEO

THURSDAY, 14th November 2024 - Copper.co (“Copper”), a leader in digital asset custody, collateral management and prime services, has today announced a range of strategic initiatives to unlock the full potential of tokenization within financial markets.

Secure custody of money-market fund tokens

Tokenized Money-Market Funds are a digital representation of underlying money-market funds, giving investors access to stable yields and greater liquidity amid high interest rates.

Copper’s institutional-grade MPC custody now allows clients to securely hold money-market fund tokens, accelerating the distribution of this innovative asset class.

New strategic partnerships with leading funds

This move to provide best-in-class infrastructure for Tokenized Money-Market Funds is underpinned by major new partnerships with Securitize (BUIDL), Franklin Templeton (BENJI), Ondo, Hashnote and Superstate.

In less than two years, BUIDL, BENJI, Ondo, Hashnote and Superstate have grown to c. $1.7 billion in assets. This rapid success highlights the distinct advantages of Tokenized Money-Market Funds, allowing holders to earn interest.

Tokenized Money-Market Funds now account for over $2 billion in assets across 30+ products. This level of growth reflects institutional demand for reduced settlement risk and greater transparency made possible by the blockchain and tokenization.

Powering the future of tokenization in financial markets

The strategic shift follows on from last month’s appointment of Amar Kuchinad as Copper’s Global CEO. Kuchinad will lead Copper’s expansion efforts, with a focus on major regulated markets and global financial institutions.

Amar Kuchinad, Global CEO of Copper.co said,

“The rapid ascent of Tokenized Money-Market Funds underscores the importance of best-in-class institutional infrastructure to drive future growth. Our secure custody solution for fund tokens, backed by groundbreaking partnerships with leading funds, signals our ambition to power the future of Tokenized Money-Market Funds. This is a cornerstone of our strategic vision to unlock the full potential of tokenization across global financial markets”.

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About Copper.co

Since being founded in 2018, Copper.co (“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

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