Hehmeyer selects Copper for digital asset custody
Copper.co, the London-based digital asset infrastructure provider, today announced it has entered into an agreement to act as a custodian for Hehmeyer, the Chicago-based global market maker in digital assets. Copper will provide Hehmeyer with a custody solution for Hehmeyer’s assets and off-exchange settlement functionality.
Under the agreement, which begins with immediate effect, Copper will provide Hehmeyer with the following combination of technology and services to ensure a safe and robust trading environment for Hehmeyer and its assets.
‘Walled Garden’ infrastructure: Copper.co has set up its award-winning custody technology and platform for use by Hehmeyer. Known as a ‘Walled Garden,’ this infrastructure creates a secure closed environment for the transmission of assets across multiple exchanges, hot wallets and offline vaults. This setup will mitigate malicious attacks against Hehmeyer funds’ infrastructure, as well as prevent fraud risks.
ClearLoop: This framework connects the universe of exchanges in one secure trading loop – with real-time settlement across the networks. Hehmeyer will be able to delegate assets in custody to more than 25 exchanges in the ‘loop,’ including BitFinex, Deribit, CoinFLEX and Zubr. Through ClearLoop technology, Hehmeyer will be able to place asset orders instantly, while assets remain secure off-exchange in Copper’s custody. Trades will be settled automatically, protecting Hehmeyer from exchange credit-risk, exchange security risks (hacking) and from assets being seized or frozen on exchange.
Internal treasury management: Copper.co will bring together its custody architecture and trading capabilities in the Copper Platform to support Hehmeyer’s treasury management needs. The extensive features of Copper’s Platform include enabling user roles and permissions; a customisable wallet architecture that combines hot, warm, and cold vaults; plus the ability to connect to exchanges via an Application Programming Interface (API), either in a Walled Garden or ClearLoop off-exchange settlement function.
Dmitry Tokarev, CEO of Copper.co, said: “At a time where interest in crypto assets is soaring, we are proud to support a market maker of Hehmeyer’s calibre in its mission to encourage participation in the crypto space. A major roadblock to this, however, is the perceived security risks of managing assets and navigating multiple exchanges. The bespoke, three-pronged solution we have built for Hehmeyer bypasses these risks. Copper technology will allow Hehmeyer to make markets secure in the knowledge that their assets are safe.”
Christopher Hehmeyer, founder and CEO of Hehmeyer, said: “Since our crypto-focused restructure in the summer, it has been our mission to create transaction freedom for cryptocurrencies. We firmly believe that partnering with a quality custodian and prime broker of Copper’s calibre is the most effective way to introduce more and better control into the space. We have been continually impressed by the market-leading solutions Copper creates and the control it is able to return to owners of digital assets – particularly across a broad range of exchanges – reducing risk and expense for participants in crypto assets.”
Notes for Editors
For more information, please contact Chanice Smith | Copper@cicero-group.com | +44 (0) 7850 229 457
Founded in 2018 by Dmitry Tokarev, Copper provides a gateway into the cryptoasset space for institutional investors by offering custody, prime brokerage, and settlements across 150 digital assets and more than 25 exchanges. It is committed to providing flexible solutions for institutional investors that can adapt to the changing cryptoasset space, while enabling far greater transparency and control for asset managers.
Copper’s fully integrated products are unique in the cryptoasset space. Underpinned by multi-award-winning custody, Copper has built the comprehensive and secure suite of tools and services required to safely acquire, trade, and store cryptocurrencies, including access to margin lending trading facilities and the DeFi space.
At the core of Copper’s infrastructure is ClearLoop, a framework that connects the universe of exchanges in one secure trading loop — with real-time settlement across the Networks. Integrated with market leading spot and derivative crypto exchanges, ClearLoop has already transformed the way in which institutional investors can engage in the cryptoasset space since launching in May 2020.
For more information, please visit: www.copper.co
Hehmeyer is a global market maker in digital assets: streaming prices electronically, operating on numerous request-for-quote platforms, and accommodating over-the-counter (OTC) markets with FIX API, REST API, GUI and other mediums. Headquartered in Chicago, Hehmeyer is dedicated to liberating transactions and the future that digital assets promise. To learn more about Hehmeyer, visit www.hehmeyer.com or follow on Twitter @HehmeyerLLC.