Blockchain Network XinFin Selects Copper For Institutional Custody Solutionbr>
Copper, a London-based custodian and prime brokerage provider for digital assets, has been appointed to provide institutional grade custody trade finance focused blockchain network XinFin.
Copper enables institutions to acquire, store, and trade digital assets in a manner which satisfies global investors and regulatory standards. The company’s multi-signature safeguarding application allows institutions to have complete certainty that their capital is not at risk of theft, whether it be from hackers or bad players in the industry.
XinFin is a Hybrid Blockchain technology company focused on international trade and finance. XinFin blockchain is powered by XDC01 protocol, which is built over the first of its kind Hybrid Blockchain architecture to eliminate the inefficiencies in global trade and financing and to enable institutions provide real time settlement as well as enabling cross border smart contracts.
According to a press release, Copper’s custody solution facilitates XinFin and TradeFinex’s institutional and crypto hedge fund customers to store the digital asset token XDCe. Copper provides support for XDCe across its institutional hot and cold wallet solutions.
“In 2020, appropriate custody services are the most critical element for institutional adoption of digital assets,” said Ritesh Kakkad, Co-founder at XinFin and TradeFinex. “With Copper’s custodial services now available for XDCe, regulated institutions like banks, crypto hedge funds and financial entities will have a secure solution to store their digitised XDCe holdings. Copper is also planning to provide support for XinFin’s primary chain coin XDC in the near future.”
With the XDCe support, Copper claims that its walled garden now covers 96% of global crypto liquidity and is seeing over £500 million in transactions each month.
“The XinFin Network is one of the most enterprise friendly blockchain networks ever created, and we’re proud they have chosen Copper for their institutional digital asset custody,” said Dmitry Tokarev, CEO of Copper. “Institutions need a lot more than an app with pretty charts. They need proper security, which includes technology, insurance, people, and business processes – as well as exceptional client service. We’re proud to have earned XinFin’s trust and their business.”