Copper, one of the industry's leading digital asset custodians, is thrilled to announce a partnership with the DFINITY Foundation, a Swiss-based not-for-profit organization and a major contributor to the Internet Computer. The partnership will facilitate further growth of Copper’s supported blockchains with the integration of the Internet Computer Protocol (ICP). ICP is a tamper-proof decentralised cloud network that allows developers and enterprises to build almost any system or service entirely on a blockchain. The Internet Computer’s infrastructure, developers and enterprises no longer have to rely on legacy IT systems that are susceptible to hacks and downtime - ICP is a new paradigm of computing power.
Through this integration, institutional investors can securely custody and stake their ICP assets directly in the Copper Platform. Additionally, Copper will now have additional opportunities to support the wider ICP ecosystem.
This integration is the latest initiative in the expansion of the Internet Computer and comes off the back of growing institutional interest in the protocol. Recently, Valour Inc. launched the first ICP exchange-traded product (ETP), the 1Valour Internet Computer Physical Staking ETP, which tracks the price of ICP. As part of the integration, Copper is operating as the custody provider for the Valour ETP, allowing a wider range of investors to gain access to the ICP ecosystem through a secure and transparent investment vehicle. Additionally, the DFINITY Foundation, alongside Roland Berger and the BEEAH Group, announced the launch of the world’s first Voluntary Recycling Credit (VRC) standard, which is built on ICP.
The steady growth and development of ICP, especially in the enterprise sector, is due in part to the Internet Computer's capacity to mitigate platform risks that can lead to increasing server costs or codebase refactoring. Designed by one of the largest blockchain R&D teams in the industry, the Internet Computer integrates security and privacy at the protocol level, making it tamper-proof and eliminating the need for external firewalls.
Dmitry Tokarev, CEO at Copper commented, “We’re proud to partner with industry players like ICP as they demonstrate how blockchain can be both innovative and sustainable. Its ecological qualities coupled with real-world applications, establish ICP as a pioneer in the advancement of environmentally friendly blockchain technology. This partnership further solidifies Copper’s commitment to providing its clients with comprehensive access to the evolving digital asset landscape.”
Dominic Williams, Founder and Chief Scientist of the DFINITY Foundation said, “By partnering with Copper, we’re furthering our efforts to help create secure blockchain infrastructure that rivals web2 cloud solutions. Security is critical to us, so working with Copper was a no-brainer - their infrastructure eliminates single points of failure. Together, ICP and Copper are creating the new version of the internet that eliminates legacy IT systems, and we look forward to seeing what comes next.”
About the DFINITY Foundation
The DFINITY Foundation is a not-for-profit organization of leading cryptographers, computer scientists, and experts in distributed computing. With a mission to shift cloud computing into a fully decentralized state, the Foundation leveraged its experience to create the Internet Computer and currently operates as a major contributor to the network.
About the Internet Computer Protocol (ICP)
The Internet Computer Protocol (ICP) is a decentralized cloud 3.0 protocol that allows developers to build and run services and enterprise systems directly on a public blockchain with unprecedented scalability. Hosted services running on top of ICP are tamper proof and can natively interact with the outside world in a trustless manner, both with traditional web 2.0 services and with other blockchains. The fast, low-cost, and energy-efficient protocol establishes a new paradigm for how a decentralized network truly operates in web3.
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 in near real time across multiple exchanges, while mitigating counterparty risk and increasing capital efficiency.
LinkedIn: Copper.co
Twitter: @CopperHQ
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