Outside Source
The HBAR Foundation and digital asset custody provider Copper have announced a collaboration aimed at broadening institutional access to the Hedera ecosystem.
As part of the partnership, Copper will offer crypto custody support for Hedera (HBAR) and enhance the blockchain network’s decentralized finance capabilities via staking. This collaboration with Copper will also expand institutional access to HBAR and the Hedera Token Service, according to details press release.
Copper clients can stake HBAR
Institutional investors can now stake their HBAR via validators of their choice, utilizing Copper’s wallet infrastructure for DeFi transactions. The partnership also introduces institutional access to HBAR trading through ClearLoop, Copper’s multi-exchange settlement solution.
Copper clients with funds in a decentralized finance vault will be able to interact with Hedera decentralized exchanges such as SaucerSwap Labs, accessing HBAR and HTS token utility. This functionality will be available through Ethereum-compatible Copper Connect.
“With Copper’s integration, institutional investors can now enter the Hedera ecosystem with greater ease and confidence,” said Shayne Higdon, co-founder and chief executive officer of the HBAR Foundation.
Higdon added that Hedera will leverage Copper’s technology and security to bolster Hedera’s growth within the crypto space.
Commenting on the integration, Copper CEO Dmitry Tokarev said:
“This is a valued partnership for us, and the full development stack integration is further testament to our shared commitment to providing robust custody solutions to institutional participants in the digital asset space.”
HBAR’s collaboration with Copper adds to numerous key developments within the Hedera ecosystem aimed at enhancing the proof-of-stake blockchain’s institutional entry. This includes a partnership with FCA-regulated platform Archax for the tokenization of BlackRock’s money market fund on Hedera.
Archax is also the firm that launched tokenized access to abrdn’s money market funds on both Hedera and Ethereum in 2023.
This article first appeared at crypto.news
