Copper Integrates With Sui Network to Provide Custody Infrastructure Support for Stablecoin and RWA Issuers
- PHPzOriginal
- 2024-06-27 10:31:08327browse
The integration with Sui includes custody support for L1 and L2, built-in staking support, and DeFi connectivity.
London, UK, June 26th, 2024, Chainwire
Copper will provide custody support for L1 and L2, built-in staking support, and DeFi connectivity.
Digital Asset Custody, Collateral Management, and Prime Services
Provider Copper has announced its latest integration with Sui, a high-performance Layer 1 blockchain and smart contract platform. The strategic partnership will see Copper provide custody support for stablecoin and Real-World Asset (RWA) issuers on Sui, such as Ondo (USDY), and marks a significant step in connecting institutional finance to on-chain opportunities on the Sui Network.
With Copper onboard, the Sui ecosystem now has the additional foundational infrastructure to enable institutional players to leverage Sui's industry-leading decentralized technology platform, addressing the need for financial institutions seeking efficient treasury services for their tokens.
"This strategic partnership, integrating Copper's enterprise-grade custody tooling, exemplifies the continued maturation of the Sui ecosystem into a platform capable of supporting the heightened infrastructure needs of Sui's institutional builders and users," said Greg Siourounis, Managing Director of the Sui Foundation. "We are truly excited about the number and diversity of new projects and assets this partnership will enable for both the Copper and Sui ecosystems."
The first phase of support, encompassing SUI and native Sui-tokens, is currently complete, making Copper a custodian for these assets. The immediate availability of Copper's infrastructure on Sui means it is ready to serve the needs of large institutional traders and market makers today. Further features in staking and DeFi are in development and will be integrated soon, significantly expanding the functionality of Copper's offerings on Sui.
"We're excited to be a part of the Sui ecosystem with Copper as custodian," commented Dmitry Tokarev, CEO of Copper. "With staking and DeFi features currently in development, we're looking forward to the evolution of this partnership."
About Copper
Copper is a digital asset custody, prime services, and collateral management provider. It provides custody for crypto, DeFi, and NFTs, with built-in staking and prime services. Copper is a custodian for several institutions, including Galaxy Digital, GSR, Jane Street, Jump, Hudson River Trading, Susquehanna, Tower Research, Virtu, XBTO, and several hedge funds. Copper is also a member of the Digital Chamber of Commerce's Digital Asset Council. Copper is headquartered in London, with offices in New York, San Francisco, and Singapore. It is backed by Dawn Capital, LocalGlobe, DST Global Partners, Index Ventures, Ribbit Capital, and Temasek.
About Sui
Sui is a Layer 1 blockchain and smart contract platform that combines horizontal scalability, high throughput, and low latency with a unique object-oriented architecture to enable a new class of applications and use cases. Sui is designed to be modular, upgradable, and developer-friendly, making it easy to build and deploy decentralized applications at scale.
The Sui Foundation is a not-for-profit organization that supports the Sui ecosystem and community. The Foundation's mission is to advance the adoption and development of Sui by providing grants, technical support, and educational resources to builders, developers, and users around the world.
Contact
Sui Foundation
[email protected]
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