Corporate Finance, DeFi, Blockchain, Web3 News
Corporate Finance, DeFi, Blockchain News

Copper adds CoinFLEX exchange to ClearLoop in institutional custodian first

Copper.co, the London-based digital asset infrastructure provider, today announced CoinFLEX, the first physically delivered cryptocurrency futures exchange, as the latest adopter of Copper’s ClearLoop framework.


Copper will be the first institutional custodian to support off-exchange settlement at CoinFLEX, an exchange which uniquely offers a range of additional crypto products including repo markets, futures spreads, one-click borrow/lending, and the yield bearing stablecoin, flexUSD.

A core component of Copper’s infrastructure, ClearLoop is the framework that connects custodians and exchanges in one secure trading environment. ClearLoop enables investors to settle digital currency transactions off-exchange – eliminating the need to deposit and withdraw assets from an exchange – in real-time. ClearLoop ensures the highest level of transaction security, which is becoming increasingly important as incidences of malicious cryptocurrency hacks and asset freezes rise.

All assets that are under Copper’s client segregated custody and traded through ClearLoop are protected by award-winning multi-party computation (MPC) wallets. Copper’s clients are also covered by a full crypto crime insurance policy, provided by A+ rated insurers and tailored for digital assets.

CoinFLEX is the latest addition to ClearLoop’s rapidly growing off-exchange settlement network, which already includes some of the largest spot and derivative markets in the world.

flexUSD is the exchanges’ first native stablecoin and allows holders to generate yield on two fronts: First, the stablecoin is a wrapped USDC token, which enables the deposited USDC to be lent out in the repurchase agreement market. And second, flexUSD can be simultaneously lent in a DeFi market, creating additional opportunities to generate yield.

Dmitry Tokarev, Founder and CEO, Copper.co, said: “We are proud to integrate with CoinFLEX and to take on the responsibility of being its only institutional custodian. This directly aligns with our commitment to ensure that institutional crypto investors can trade efficiently and securely.

“Security has always been a priority for institutions. However, with the rise in cyber security breaches, exacerbated by the COVID-19 pandemic, and increasing crypto asset freezes, state-of-the-art security is more important than ever. Copper’s MPC-secured wallets ensure assets are protected throughout the entirety of trades, while our ClearLoop technology ensures trades can be settled off-exchange at the click of a button. This partnership brings us yet another step closer to making crypto trading mainstream.”
Mark Lamb, CEO of CoinFLEX said: “Integrating into ClearLoop marks a major milestone for CoinFLEX at a point in our growth journey where we are ready to expand our institutional investor user-base. Copper’s innovative technology will allow us to open previously shut doors for traders, while maintaining the utmost security and efficiency trading firms need to participate confidently in cryptocurrencies.”

About Copper
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.
www.copper.co

About CoinFLEX
Founded in 2019, by Mark Lamb and Sudhu Arumugam, CoinFLEX (Coin Futures and Lending Exchange) is the world’s first physically delivered cryptocurrency futures exchange, developed to provide avenues for investors to trade and hedge cryptocurrency exposure with minimal index or price settlement risk.
https://coinflex.com/


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Mardi 24 Novembre 2020




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