As a seasoned researcher with extensive experience in the digital assets sector, I find the recent move by Copper to offer custody and staking support for Mina Protocol (MINA) particularly intriguing. Having closely followed the evolution of institutional investments in cryptocurrencies, it’s clear that this decision targets a growing segment eager to diversify their crypto participation.
As a crypto investor, I’m thrilled about the latest development from Copper, a digital asset custody and collateral management provider. Now, they’re extending their services to include custody and staking support for the Mina Protocol, opening up new investment opportunities for us in this promising blockchain ecosystem.
On August 21st, Copper.co declared their backing of the Mina Protocol (MINA), highlighting that this endorsement extends the variety of digital assets available to institutional investors, particularly those based on zero-knowledge blockchain technology.
Through Copper’s infrastructure, eligible clients can connect to the Mina Protocol ecosystem, given their eligibility.
Targeting institutional investors
Established in 2018, Copper serves as a platform designed to grant institutional investors entry into the digital asset market. It offers an MPC wallet and introduced its off-exchange settlement solution, ClearLoop, in 2020.
With ClearLoop, users can handle their digital asset collateral and carry out transactions across leading cryptocurrency exchanges, all while keeping their assets securely within the Copper wallet.
As reported by a firm based in London, incorporating MINA staking encourages broader usage of Zero-Knowledge (ZK) technology.
“Adding Copper’s custodial service expands the choices for professional and institutional investors to broaden their involvement in crypto, specifically with MINA. We anticipate this will also increase understanding of the institutional applications for Zero-Knowledge (ZK) technology, including zk-KYC credentials that ensure compliance without compromising user privacy.”
Kurt Hemecker, chief executive officer of Mina Foundation
According to Dmitry Tokarev, the co-founder and CEO of Copper, cryptocurrencies and blockchain technology have reached a crucial juncture where they could see increased acceptance from institutions.
Tokarev noted that the U.S. Securities and Exchange Commission’s approval of Ethereum ETFs in May and subsequent trading launch in July has sparked greater interest. Consequently, there is a rising need for dependable instruments among institutional investors, as they seek avenues to invest in cryptocurrencies within the ecosystem.
Copper’s recent partnerships
More recently, Copper has joined forces with Hedera (HBAR) to broaden institutional opportunities for engaging with the proof-of-stake network’s indigenous token. This collaboration enables investors to use Copper Connect and Hedera protocols like SaucerSwap to get involved in the HBAR ecosystem and Hedera Token Service, thereby utilizing their functions.
Copper expanded its custody and staking service to Internet Computer (ICP) in July.
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2024-08-21 19:50