TL;DR
- Copper expands its services with custody and staking solutions for SUI, aiming to strengthen access and security for institutional and enterprise investors.
- Founded in 2018, Copper leads in digital custody, handles over $50 billion monthly in trading, and offers staking and DeFi products.
- The partnership allows Copper to offer an integrated wallet and expand its services with staking and DeFi, while SUI enhances its infrastructure to attract institutional investments.
Copper, the renowned digital asset infrastructure company, has announced an expansion of its services by integrating custody and staking solutions for the SUI blockchain. Both companies aim to enhance accessibility and security for institutional and enterprise investors interested in participating in the SUI ecosystem, a layer-1 smart contracts platform.
Founded in 2018, Copper has solidified its leadership position in custody, serving over 50 blockchains and managing a monthly trading volume exceeding $50 billion. Focused on providing secure digital custody services, off-chain settlement for cryptocurrencies, staking, and a range of DeFi products, Copper bridges traditional finance with digital assets.
Copper’s institutional platform is available immediately – ready to serve large institutional traders and market makers and facilitate seamless movement between DEXs and centralized exchanges.
— Sui (@SuiNetwork) June 26, 2024
The partnership will enable Copper to offer its clients an integrated wallet that optimizes cryptocurrency storage and transactions, ensuring a secure and efficient environment for digital asset management. Additionally, Copper is expanding its services to include full support for staking and advanced DeFi functionalities.
SUI Anticipates Boost from its Alliance with Copper
On the other hand, SUI, a blockchain powered by Mysten Labs and backed by former Meta executives, has actively worked to enhance its infrastructure and attract institutional investors’ attention. The expansion of its custody capabilities with Copper will facilitate the issuance and management of native tokens like the Ondo USD Yield (USDY) stablecoin. Moreover, it will enhance its competitiveness in the sector by offering a comprehensive and secure solution for participation in its network.
According to the latest data from CoinMarketCap, SUI has experienced a downturn due to crypto market volatility, losing 7.3% of its value in the last 24 hours. Its current price is $0.8335, with a market capitalization exceeding $2 billion.
Greg Siourounis, Managing Director of Sui Foundation, emphasized that integrating enterprise custody solutions is crucial to attract large financial institutions to their ecosystem. This strengthens their position in the digital asset market and promotes the adoption and use of advanced blockchain technologies in traditional financial applications globally.
