Copper, the London-based custodian for digital assets, has witnessed exponential growth in the use of its trade and settlement infrastructure, showing a 50% increase in volumes month-on-month.
Since launching its infrastructure in June, Copper has already processed $500m in transactions.
The company already provides digital asset safeguarding for multiple funds and investors operating a full range of investment strategies. Now, clients such as GSR, a large market-maker and liquidity provider for digital assets, are taking full-advantage of Copper’s multi-account, multi-currency trading platform and T-0 settlement solution. As the firm moves towards fiat custody and settlement, it has also agreed to work with Signature bank to provide T-0 USD settlement.
Copper has been repeatedly recognised for its market-leading settlement solutions by financial and fintech organisations. Most recently, Copper announced in May that it was selected by SWARM, an infrastructure provider for the issuance and trading of digital assets, to integrate Copper’s technology which provides institutional grade security fundamental to the mass market trading of digital securities.
“It is encouraging for us to see the growth of this type of settlement infrastructure in the crypto industry.”
Dmitry Tokarev, Founder & CEO of Copper, has commented: “Although we expected to see a gradual uptake in execution and settlement volumes across our clients, it’s really heartening to see such a rapid increase in engagement.
Not only are we trusted by investors and funds to hold millions of dollars’ worth of their assets and facilitate their high-volume trading needs – but our proven T-0 settlement time allow our customers to work their capital harder and potentially increase profit.
We are working on other unique services which will give our institutional customers additional tools to engage with the digital asset markets which we expect to go live in Q4.“
Jakob Palmstierna, director of investment solutions, GSR, commented: “The secure repository and trading of digital assets is imperative for facilitating institutional adoption. GSR services the trading needs of counterparts when they are entering and exiting risk trades, or when they require bespoke risk exposures.
It is encouraging for us to see the growth of this type of settlement infrastructure in the crypto industry. Copper has been at the forefront of this development when it comes to robustness and security.”