Copper July 2026 Monthly Recap

We're now more than halfway through the year, and momentum at Copper hasn't slowed down. Across product, research, and partnerships, our teams have continued pushing forward on what it means to build secure, institutional-grade digital asset infrastructure. Here's a look at what we've been up to.

ClearLoop by the numbers

In July, ClearLoop continued to deliver secure, capital-efficient access to digital asset markets, helping institutions mitigate counterparty exposure and streamline the settlement process.

Over the course of the month, the network processed 45 million trades, supported 74.8 billion USD in notional trading volume, and completed 2 billion USD in gross settlements. These results highlight the ongoing role of ClearLoop's off-exchange settlement infrastructure in enabling institutions to trade efficiently while benefiting from segregated custody.

New Tokens Support

Copper expanded support for additional digital assets and blockchain networks across the Copper Network this month, enhancing institutional access to custody, settlement, and trading services. Newly supported assets include HYPE on the HyperEVM and HyperCORE blockchains, USDC on HyperCORE and HyperEVM.

These additions further expands the scope of digital assets available across Copper's infrastructure and connectivity ecosystem.

Media Notes

Opening Bell 65

In the recent edition of Opening Bell, Copper's Head of Research Fadi Aboualfa discovers that although the x402 "agent economy" is real, it is much smaller than advertised. Headlines point to nearly 200 million payments and 52 million USD in volume since October 2025, but self-payments and wash trading account for the bulk of that figure. Strip those out and genuine settled volume drops to around 29 million USD.

The underlying signal is still worth watching. A small number of legitimate services show clean, growing activity with no artificial inflation. If you’d like to read more you can check out our latest version of Opening Bell on our research page.

Copper Adds Hyperliquid Support

Copper has integrated the Hyperliquid ecosystem into the Copper Platform, enabling clients to securely hold HYPE across HyperCORE and HyperEVM using Copper's MPC technology. The integration also includes native support for Circle's Cross-Chain Transfer Protocol (CCTP), allowing seamless cross-chain transfers of assets such as USDC between Ethereum, HyperEVM, and HyperCORE, within the Copper Platform. This integration is not available to U.S. persons.

Events

In July the Copper team participated in key industry events, connecting with clients, partners, policymakers and market participants from across the digital asset ecosystem.

Hyperliquid Summit

Copper CEO Amar Kuchinad spoke at Hyperliquid Summit 2026 in New York, joining the panel discussion, "Exploring Institutions & Hyperliquid." During the session, Amar shared insights on institutional adoption, market infrastructure, and the evolving role of Hyperliquid within the digital asset ecosystem. Watch Amar’s full talk here.

Upcoming Events

Coinfest Asia 2026

Katie Liu, Business Development Director at Copper, will be attending Coinfest Asia between 20-21 of August in Bali, Indonesia. As one of Asia's leading crypto and Web3 conferences, the event brings together founders, investors, institutions, and industry leaders from across the digital asset ecosystem. Katie will be available for meetings to discuss institutional digital asset infrastructure, custody, settlement, and potential partnership opportunities.

That’s all for this month! We look forward to building on this momentum in the months ahead as we continue expanding our institutional network and product capabilities across the Copper ecosystem.

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.