Copper becomes the first institutional custodian for CCD
Copper.co, multi-award-winning provider of digital asset custody and trading solutions, announced it will be the first institutional custodian for CCD, Concordium blockchain’s native cryptocurrency.
Copper will support staking solutions for CCD and provide sophisticated and secure cross-exchange trading infrastructure for effective and fast management of crypto assets.
Concordium, based in Switzerland, is defining a new category of compliance facilitating blockchains. Concordium is a Web 3.0 based, sustainable and science-proven blockchain. It is the first decentralized blockchain with identification at the protocol level which helps facilitate greater regulatory compliance. This identity layer offers transactional privacy while supporting regulatory accountability, and, as such is a natural partner to Copper’s secure digital asset custody offering. Transactions at Concordium have instant finalization and high throughput in terms of trades processed per second.
Copper’s infrastructure is underpinned by multi-award-winning custody and an Aon brokered crime insurance policy. Copper´s secure digital asset custody solution uses Multi-Party Computation technology whereby the private key is split, largely eliminating the risk of key exposure in online transactions. Over 400 institutions already trust Copper as a custodian for their crypto assets both for the paramount security provided by Copper and for the wide range of supported tokens, which currently stands at over 450.
Lone Fønss Schrøder, CEO, Concordium, commented: “Copper provides the gold standard in institutional crypto asset management. They are leading the way in secure custody and trading in the same way that we are pioneering accountable and responsible blockchain technology. We are pleased that Concordium’s token holders can now benefit from Copper´s service and we look forward to continued cooperation as we grow.”
Dmitry Tokarev, CEO, Copper, added: “We’re delighted to announce our support for Concordium as their first institutional custodian. Their commitment to transparency and accountability echoes our own commitments to security in crypto asset engagement.”
Transaction fees on Concordium are low and stable in FIAT terms. Low fees and predictability are essential for the use cases and will support growth. Concordium’s native cryptocurrency , the CCD, is key to interacting with the Concordium blockchain and users will pay transaction fees with the CCD. The CCD cryptocurrency also powers the vibrant ecosystems built on the Concordium platform, which supports a wide range of applications such as tokenization, Regulated DeFi and decentralized platforms as well as secure sharing of data, NFT marketplaces, royalties tracking, payments and real-time IoT operating systems. The CCD will also be used for paying the baker rewards and finalization rewards to Bakers and Finalizers.
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 450 digital assets and more than 45 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.
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.
Concordium is a public, decentralized, proof-of-stake (PoS) layer-1 blockchain with unique ID features at the protocol level, to ease regulatory compliance. Protocols are based on science-peer reviewed papers. Concordium has deployed a unique smart-contract environment with a fungible and non-fungible token standard. Concordium differs by offering nearly instantaneous, real finality with low transaction fees, stable in FIAT terms, expressed in Concordiums crypto currency, the CCD.
For more information: concordium.com.
Please also see the weekly CCD news channel, powered by Concordium: