Copper integrates Avalanche to bolster institutional-grade storage and trading security for AVAX
Copper.co, a London-based digital asset infrastructure provider, has completed its integration with Avalanche, an open-source platform for launching decentralised applications and enterprise blockchain deployments in one interoperable, highly scalable ecosystem.
Institutional clients trading AVAX, the native token of Avalanche, will have access to Copper’s secure storage and trading ecosystem with immediate effect. Copper will add AVAX to the 150-plus collection of digital assets supported across Copper’s infrastructure.
Institutional AVAX traders, community, and whales now have access to Copper’s hybrid MPC (multi-party computation) wallet technology, which combines secure offline storage with seamless access to leading online exchanges.
Using Copper’s proprietary technology, mutual clients of Avalanche and Copper can move assets quickly and securely between decentralised applications (dApps) built on Avalanche–including Solidity smart contracts.
Avalanche is the first smart contracts platform that processes 4,500+ transactions/second (tps) and instantly confirms transactions, compared to bitcoin’s 7 tps and ether’s 14 tps.
Copper Walled Garden infrastructure creates a secure closed environment for the transmission of assets across multiple exchanges, hot wallets, and offline vaults. This setup mitigates malicious attacks against a funds’ infrastructure, as well as prevents fraud risks.
Meanwhile, Copper’s ClearLoop framework connects the universe of exchanges in one secure trading loop – with real-time settlement across networks. AVAX holders will be able to delegate assets in custody to more than 25 exchanges in the ‘loop’, including BitFinex, Bit.com, Deribit, CoinFLEX, and more. Through ClearLoop technology, users can place asset orders instantly, while assets remain secure off-exchange in Copper’s custody. Trades are settled automatically and offline, protecting AVAX holders from exchange credit-risk, exchange security risks (hacking), and from assets being seized or frozen on an exchange.
“It is hugely rewarding for us to work with Avalanche, to underpin the security of a network that will facilitate trade across different financial assets at speed. It is an ethos we share with Avalanche and have already built tools that allow for digital assets to be allocated to exchanges via API, without actually making an on-chain transaction. Therefore, Copper, and now Avalanche, clients can be ready to trade on exchange within 100 milliseconds,” says Dmitry Tokarev, CEO, Copper.co. “At a time where decentralised finance is only growing in popularity but traditional finance is lagging behind, we are working with Avalanche to bring crypto-assets one step closer to the mainstream.”
"Institutional investors have made tremendous progress in sorting the facts from fiction across the cryptocurrency ecosystem, and are beginning to turn talk into action,” says John Wu, President of Ava Labs. “Projects like Copper provide the assurance of secure and robust infrastructure that institutions and sophisticated traders demand. I'm excited to welcome their technology to the Avalanche ecosystem, and look forward to their impact in accelerating adoption amongst this segment."