HBAR Foundation and Copper Collaborate to Broaden 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

The HBAR Foundation, a non-profit organization dedicated to fostering the growth of the Hedera ecosystem, has announced a collaboration with digital asset custody provider Copper. This partnership is aimed at broadening institutional access to the Hedera ecosystem.

As part of the collaboration, Copper will offer crypto custody support for Hedera (HBAR) and enhance the blockchain network’s decentralized finance (DeFi) capabilities through staking. This collaboration will also expand institutional access to HBAR and the Hedera Token Service (HTS), as mentioned in a press release.

Institutions can now stake HBAR through validators of their choice, leveraging Copper’s wallet infrastructure for DeFi transactions. The partnership also enables institutional access to HBAR trading through ClearLoop, Copper’s multi-exchange settlement solution.

Institutions with funds in a decentralized finance vault will be able to interact with Hedera decentralized exchanges (DEXs) like SaucerSwap Labs, utilizing HBAR and HTS token capabilities. This functionality will be accessible via the 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.

Highlighting Hedera’s focus on institutional adoption, 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.”

This collaboration between HBAR and Copper adds to several key developments within the Hedera ecosystem, which are geared towards enhancing the proof-of-stake blockchain’s institutional entry. Notably, this includes a partnership with the FCA-regulated platform Archax for the tokenization of BlackRock’s money market fund on Hedera.

Archax also launched tokenized access to abrdn’s money market funds on both Hedera and Ethereum in 2023.

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