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

Multicoin Capital selects Copper’s custody solution to safeguard their Arweave and Helium tokens, a leading provider of digital asset custody and trading solutions, today announced that Multicoin Capital, a thesis-driven investment firm focused on cryptocurrencies, tokens, and blockchain companies, has chosen Copper’s custody solution to secure its Arweave (AR) and Helium (HNT) tokens.

As an early investor in both projects, Multicoin Capital is committed to supporting both projects long term.

Multicoin Capital selected Copper because it is one of the only providers that supports custody for both Helium and Arweave tokens. The firm also selected Copper’s custody solution in part for its multi-award-winning security and for its Multi-Party Computation (MPC) technology. With MPC, key shards are formed simultaneously and in isolation. One shard each is then entrusted to the client, its trusted third party, and Copper. These shards allow transactions to be signed online without the risk of private key exposure because there is no longer a single private key. This largely eliminates the risk of key exposure in online transactions.

Multicoin Capital invested in Arweave and Helium in 2019. Since then both projects have grown exponentially and are now among the top 100 assets as ranked by market cap. Arweave is a global, permanent storage protocol that allows anyone to store data forever, sustainably, with a single upfront fee. Helium is the world’s largest distributed wireless network. Powered by over 200,000 independent Hotspot operators, the network provides generally accessible connectivity to millions of Internet of Things (IoT) devices around the world.

Tushar Jain, Co-Founder and Managing Partner, Multicoin Capital commented: “We’ve had a great experience so far. Copper’s team worked swiftly to support two of our larger holdings. They also went out of their way to make the on-boarding experience simple and streamlined. We’re excited to work with them and help them expand institutional custody of Helium and Arweave.”

Alex Ryvkin, Chief Product Officer, Copper, commented: “Multicoin Capital is one of the leading investment firms in the space. It is a pleasure to support the business, and we look forward to supporting the team further as they continue to diversify and grow their portfolio.”

Over 400 institutions already custody their cryptoassets with Copper, which now supports more than 250 different tokens.

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 250 digital assets and more than 40 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 Networks. 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.

About Multicoin Capital
Multicoin Capital is a thesis-driven investment firm that focuses on cryptocurrencies, tokens, and blockchain companies. Blockchain technologies will create trillions of dollars of value over the next decade. But investing in tokens is fundamentally different than investing in companies. New tools, heuristics, and security measures are required to responsibly invest in this ecosystem. We believe in making decisions based solely on first principles and deep understanding of technology. We rigorously research blockchain protocols, teams, and market opportunities to deliver venture capital economics with public market liquidity.

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Mardi 19 Octobre 2021

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