Copper.co, the London-based digital asset infrastructure provider, today announced the launch of CopperConnect – the first ever dedicated decentralized finance (DeFi) tool for crypto institutions.
CopperConnect works via a simple, highly secure Google Chrome application.
When an institution deposits cryptoassets onto a DeFi pool, they are effectively contributing to a decentralised pool of assets that can be borrowed from at interest by individuals or businesses. This means that institutions that deposit funds onto a DeFi pool are able to earn passive income from their assets.
In the past, the DeFi space was viewed as too volatile for many crypto funds. However, over recent months, the number of unaudited DeFi projects (i.e.
Copper’s infrastructure ensures the
Katrina Daminova, Head of Product, Copper.co, said: “Over the past three months, there has been a lot of excitement about the potential of DeFi for crypto institutions. The prospect of being able to earn interest on assets that would otherwise just be sitting in a secure wallet is a potential game-changer for any crypto-fund. However, up until very recently, the lack of security auditing coupled with radical value drops on major DeFi projects
“But the tide has rapidly turned – only last month, DeFi audit firms reported an overwhelming demand from DeFi companies to get their projects audited. This push for credibility has come with a notable stabilisation across
“Up until today, there was only one real remaining barrier to entry for firms – being able to transfer their assets into dApps securely and efficiently. I am very excited to say that we have overcome this barrier with
Stani Kulechov, CEO at Aave, the decentralized non-custodial money market protocol, said: “In recent months, we have seen a significant increase in the number of institutions looking to deposit liquidity onto our project. However, to date, institutions have not had the tools available to comply with their exacting risk management rules.
“CopperConnect eliminates almost all operational risk considerations for institutions, and will allow for a significant increase in the liquidity deposited on our platform. We believe that this injection will help to usher in the next phase for DeFi, enabling a period of growth and increasing credibility across the sector.”
Juan David Mendieta, Co-Founder & CSO, Keyrock said: “In a rapidly evolving space, where new financial services and trading opportunities are created every day, its essential that we’re able to connect securely to DeFi pools as quickly as possible. Copper’s browser extension means access and execution on DeFi and Centralised exchanges from one central control point.”
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 network. 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