Company News

Copper Recap - July 2024

Keeping you informed on the latest company innovations and developments

Copper

21.08.2024

Copper recap | July'24

Having closed June above $62k, the start of July saw an initial 15% BTC retracement as talk of supply overhangs gripped the market. Blockchain detectives watched as nearly $3bn of confiscated coin in Germany made its way onto exchanges and OTC desks. Mt Gox repayments added further fuel to the selling fear which had contributed to a daily downtrend starting at the beginning of June and not ending until the final German sales were done come July 12th.

Meanwhile, excitement around the eventual ETH ETFs on July 23rd was muted. Grayscale’s decision to charge a 2.5% management fee stoked repeat concerns of mass outflows. Despite a reasonable opening day, the ETFs witnessed notable outflows soon after with ETH price performance still yet to recover.

Yet, despite the gloom, July ended on a positive note. Bitcoin 2024 saw a renewed wave of optimism, a host of US politicians including Donald Trump made the case for Bitcoin. It is now without doubt a global asset class and a political talking point. Whispers that Trump may make Bitcoin a strategic reserve asset if elected sent Bitcoin on the cusp of $70k and SOL up 31% MTD just prior to the keynote. The speech ultimately disappointed on that front but none the less, with increasing expectations as to the size of FED rate cuts, global liquidity injections on the horizon and a potential pro-crypto US President, the crypto market continues to setup for Q4.

Product updates snapshot

ClearLoop

Copper’s off-exchange settlement solution continues to see record growth in user adoption and we look forward to continuing this growth as we make further integrations and unveil new exchange collaborations in the coming months.

Copper

Key product updates

Our Product and Engineering teams have been hard at work to grow and improve our existing product suite, adding support for new networks, tokens, staking features and UI upgrades.

Integration of Radix Blockchain

We've integrated Radix (XRD) within Copper's Platform. Copper has partnered with Radix to provide institutional custody services, offering a secure and seamless experience for managing digital assets. Read more →

Copper and DFINITY

Building on our partnership with DFINITY, we're excited to announce support for new token standards on the Internet Computer blockchain. Copper will offer its clients secure access to the Service Nervous System (SNS), a powerful form of DAO that allows communities to govern smart contracts and dApps, and the Internet Computer Request for Comments (ICRC) token standards on the Internet Computer blockchain. Read more →

Copper partners with Flow Traders

Through the partnership, Flow Traders will be fully integrating their exchange trading infrastructure with ClearLoop, utilising Copper’s custodian agnostic OTC settlement network, and leveraging multiple platform features to improve connectivity with Copper’s existing institutional client-base. Read more →

Copper and Stacking DAO

By integrating the custody of stSTX within Copper’s platform, this strategic partnership streamlines the custodial experience for institutional holders of stSTX, while also setting a standard for collaborative ventures that prioritise security, accessibility, and growth within the digital asset space. Read more →


New tokens added

We have added custody support for a range of new tokens, further expanding our custodial offering and trading options via Walled Garden. View the full list →

Copper

To see the full details of all of Copper’s listed digital assets, see our help page →

Recent news

perfORM Operational Due Diligence (ODD) Report

The newly released 2024 ODD report is now available upon request to investment managers and partners, providing an in-depth evaluation of our key operational pillars, including: digital asset safety, infrastructure, cybersecurity, regulation and compliance, finance crime prevention, and audits. Read more →

Canton Network

Copper remains at the forefront of providing global custody solutions and support to innovative blockchains such as the Canton Network. We're excited to support Canton Coin and the Global Synchronizer - the Canton Network’s decentralised, independently governed, and public-permissioned interoperability infrastructure which launched today alongside support from leading market participants. Read more →

Opening bell
Prepare for the week ahead, with 'The Opening bell’ a weekly report, crafted by our Research Team, providing a concise yet comprehensive overview of the latest data trends and analyses. Subscribe on LinkedIn →

In-depth report
Our in-depth reports focus on the development and evolution of Financial Market Infrastructure and DLT. Our in-depth reports focus on the development and evolution of Financial Market Infrastructure and DLT. Part two of our in-depth series, delves into the 'Settlement of non-native tokenized securities'. Read more →

CopperCasts

The latest insightful episode of CopperCasts features Lex Sokolin, Managing Partner and Co-Founder of Generative Ventures, on the topic of 'Crypto GDP and the future of the machine economy'. Stream episode in full →

Read more about recent and upcoming regional updates by subscribing to our full monthly newsletter on LinkedIn here, or submit your email below to get this delivered to your inbox monthly.

Disclaimer.

THE INFORMATION CONTAINED WITHIN THIS COMMUNICATION IS FOR INSTITUTIONAL CLIENTS AND PROFESSIONAL AND SOPHISTICATED MARKET PARTICIPANTS ONLY. THE VALUE OF DIGITAL ASSETS MAY GO DOWN AND YOUR CAPITAL AND ASSETS MAY BE AT RISK.

Copper Markets (Switzerland) AG (“Copper”) provides various digital assets services (“Crypto Asset Service”) to professional and institutional clients in accordance with the Swiss Federal Act on Financial Services (FinSa) of 15 June 2018 as amended and restated from time to time. This material has been prepared for informational purposes only without regard to any individual investment objectives, financial situation, or means, and Copper is not soliciting any action based upon it. This material is not to be construed as a recommendation; or an offer to buy or sell; or the solicitation of an offer to buy or sell any security, financial product, or instrument; or to participate in any particular trading strategy in any jurisdiction in which such an offer or solicitation, or trading strategy would be illegal. Certain transactions, including those in digital assets, give rise to substantial risk and are not suitable for all investors. Although this material is based upon information that Copper considers reliable, Copper does not represent that this material is accurate, current, or complete and it should not be relied upon as such. Copper expressly disclaims any implied warranty for the use or the results of the use of the services with respect to their correctness, quality, accuracy, completeness, reliability, performance, timeliness, or continued availability. The fact that Copper has made the data and services available to you constitutes neither a recommendation that you enter into a particular transaction nor a representation that any product described herein is suitable or appropriate for you. Many of the products described involve significant risks, and you should not enter into any transactions unless you have fully understood all such risks and have independently determined that such transactions are appropriate for you. Any discussion of the risks contained herein with respect to any product should not be considered to be a disclosure of all risks or complete discussion of the risks which are mentioned. You should neither construe any of the material contained herein as business, financial, investment, hedging, trading, legal, regulatory, tax, or accounting advice nor make this service the primary basis for any investment decisions made by or on behalf of you, your accountants, or your managed or fiduciary accounts, and you may want to consult your business advisor, attorney, and tax and accounting advisors concerning any contemplated transactions. Digital assets are considered very high risk, speculative investments and the value of digital assets can be extremely volatile. A sophisticated, technical knowledge may be needed to fully understand the characteristics of, and the risk associated with, particular digital assets. Copper is a member of the Financial Services Standard Association (VQF), a self-regulatory organization for anti-money laundering purposes (SRO) pursuant to the Swiss Federal Act on Combating Money Laundering and Terrorist Financing (AMLA) of 10 October 1997 as amended. Business conducted by us in connection with the Crypto Asset Service is not covered by the Swiss depositor protection scheme (Einlagensicherung) or the Financial Services Compensation Scheme and you will not be eligible to refer any complaint relating to the Crypto Asset Service to the Swiss Banking Ombudsman. It is your responsibility to comply with any rules and regulations applicable to you in your country of residence, incorporation, or registered office and/or country from which you access the Crypto Asset Service, as applicable.

The latest forward thinking research, straight to your inbox.

Insights

Market insights straight from the source.