As a seasoned crypto investor with a knack for spotting potential gems, I find the collaboration between the HBAR Foundation and Copper to be a promising development that could significantly expand my investment horizons. With Copper’s robust custody solutions and decentralized finance capabilities, institutional investors like myself can now dive deeper into the Hedera ecosystem with greater confidence and ease.
The HBAR Foundation and digital wallet service Copper are teaming up to expand opportunities for institutions to engage with the Hedera network.
In this partnership, Copper will provide secure storage for Hedera’s cryptocurrency (HBAR) and boost the blockchain network’s capabilities in decentralized finance through staking. This collaboration with Copper is expected to increase institutional involvement with HBAR and the Hedera Token Service, as suggested by the press release.
Copper clients can stake HBAR
As a researcher delving into the realm of decentralized finance (DeFi), I’m excited to announce that we now have the ability to delegate our institutional investments in HBAR through chosen validators, leveraging Copper’s robust wallet infrastructure. This partnership also opens up an avenue for institutional traders to access HBAR markets via ClearLoop, Copper’s advanced multi-exchange settlement system.
Users who have copper accounts holding funds in a decentralized finance safe can engage with Hedera’s decentralized trading platforms like SaucerSwap Labs, enabling them to utilize HBAR and HTS tokens. This capability will be facilitated via the Ethereum-compatible Copper Connect platform.
“Shayne Higdon, co-founder and CEO of the HBAR Foundation, stated that by incorporating Copper, institutional investors now find it simpler and more trustworthy to join the Hedera ecosystem.”
As an analyst, I can share that I’ve learned that we, at Hedera, are set to strengthen our presence in the cryptocurrency sector by integrating Copper’s advanced technology and robust security solutions into our own platform. This strategic move is designed to enhance our growth trajectory within the crypto space.
Commenting on the integration, Copper CEO Dmitry Tokarev said:
“For us, this collaboration is highly important, and the fact that we’re integrating our entire tech stack reinforces our mutual dedication to delivering secure custody services for institutional players in the digital assets industry.”
Partnering with Copper contributes significantly to multiple significant advancements within the Hedera network, particularly in improving the accessibility of its proof-of-stake blockchain for institutions. Notably, this collaboration also involves a strategic partnership with FCA-approved platform Archax for tokenizing BlackRock’s money market fund on the Hedera network.
In addition to being the company behind it, Archax facilitated the introduction of tokenized investments in abrdn’s money market funds on both the Hedera and Ethereum networks back in 2023.
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2024-08-14 01:10