Multicoin Capital selects Copper’s custody solution to safeguard their Arweave and Helium tokens

Multicoin Capital selects Copper to safeguard its Arweave and Helium tokens.

Copper

Multicoin Capital, a thesis-driven investment firm focused on cryptocurrencies, tokens, and blockchain companies, has chosen Copper’s custody solution to secure its Arweave (AR) and Helium (HNT) tokens.

As an early investor in both projects, Multicoin Capital is committed to supporting both projects long term.

Multicoin Capital selected Copper because it is one of the only providers that supports custody for both Helium and Arweave tokens. The firm also selected Copper’s custody solution in part for its multi-award-winning security and for its Multi-Party Computation (MPC) technology. With MPC, key shards are formed simultaneously and in isolation. One shard each is then entrusted to the client, its trusted third party, and Copper. These shards allow transactions to be signed online without the risk of private key exposure because there is no longer a single private key. This largely eliminates the risk of key exposure in online transactions.

Multicoin Capital invested in Arweave and Helium in 2019. Since then both projects have grown exponentially and are now among the top 100 assets as ranked by market cap. Arweave is a global, permanent storage protocol that allows anyone to store data forever, sustainably, with a single upfront fee. Helium is the world’s largest distributed wireless network. Powered by over 200,000 independent Hotspot operators, the network provides generally accessible connectivity to millions of Internet of Things (IoT) devices around the world.

Tushar Jain, Co-Founder and Managing Partner, Multicoin Capital commented: “We’ve had a great experience so far. Copper’s team worked swiftly to support two of our larger holdings. They also went out of their way to make the on-boarding experience simple and streamlined. We’re excited to work with them and help them expand institutional custody of Helium and Arweave.”

Alex Ryvkin, Chief Product Officer, Copper, commented: “Multicoin Capital is one of the leading investment firms in the space. It is a pleasure to support the business, and we look forward to supporting the team further as they continue to diversify and grow their portfolio.”

Over 400 institutions already custody their cryptoassets with Copper, which now supports more than 250 different tokens.

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