TL;DR
- Copper will provide custody and staking services for Hedera’s HBAR token and facilitate institutional investors’ entry into DeFi.
- HBAR will be integrated into Copper’s ClearLoop settlement network and the Connect app for use in DeFi protocols.
- Hedera has included major companies like Google and Dell in its governing council, highlighting its focus on asset tokenization.
Copper, a prominent cryptocurrency custodian based in London, has announced a new strategic partnership with Hedera that will mark a milestone in integrating services for the HBAR token.
This collaboration includes the provision of custody and staking services, as well as the creation of a bridge to facilitate institutional investors’ entry into the DeFi ecosystem of Hedera.
The partnership will enable HBAR to connect to Copper’s ClearLoop network, a settlement platform that uses a network of exchanges and OTC desks, such as Bybit, Deribit, Kraken, and OKX.
This integration will make it easier for investors to access the market efficiently and securely, while also allowing the token to be integrated into various DeFi protocols, including Aave, through the Copper Connect application.
This tool, designed to manage risks in an institutional setting, represents a significant advancement in accessibility and security for HBAR users.
Hedera, known for its innovative “hashgraph” algorithm, has focused on asset tokenization, a growing trend in the blockchain sector.
Throughout the year, the network has attracted notable names to its governing council, including Google, FIS, Abrdn, and Dell.
This influence has been crucial for Hedera’s development and expansion in the cryptocurrency ecosystem.
Copper’s integration not only strengthens the service infrastructure for HBAR but also broadens access to new opportunities within the DeFi space.
Shayne Higdon, co-founder and CEO of the HBAR Foundation, has emphasized that this partnership provides a secure and simplified path for institutional investors to integrate into the Hedera ecosystem.
This development represents an important step towards consolidating Hedera as a key player in the digital asset market.
Advancement in Asset Tokenization on Hedera
The collaboration between Copper and Hedera underscores a significant shift in how digital assets are managed and accessed at an institutional level.
Integrating HBAR into the ClearLoop network and the Copper Connect application is a testament to Hedera’s commitment to innovation and accessibility in the DeFi space.
The ability to connect the token with a robust network of exchanges and DeFi protocols will expand opportunities for institutional investors and enhance market liquidity.
This advance is particularly relevant given the growing interest and need for secure and efficient solutions to manage digital assets.
Copper’s involvement, a firm with an established reputation in the market, ensures that institutional investors can access these services with confidence.
The partnership also marks a turning point in the adoption of Hedera as a key platform for asset tokenization and participation in the DeFi ecosystem.
With increasing acceptance of Hedera by major industry names and the integration of advanced services like those from Copper, the future looks promising for this network and its HBAR token.
The collaboration not only enhances the existing infrastructure but also opens new opportunities for expansion and growth within the blockchain ecosystem.
