- Elrond Network teamed up with Copper
- The partnership will let Copper provide custody services for the Elrond blockchain
Elrond Network teamed up with Copper, a leading digital gateway provider of the crypto asset space for institutional investors.
Elrond Network, the internet-scale blockchain, announced that Copper.co has integrated its technology. According to the Elrond Network team, the partnership will let Copper provide custody services for the EGLD digital currency and assets issued on the Elrond blockchain.
Speaking of digital assets issued on the Elrond blockchain, EGLD is the native, capped supply utility and settlement token for the Elrond Network. It is used for transactions, staking, DeFi products, and the issuance of tokenized assets and non-fungible tokens (NFTs).
Copper, on the other hand, provides the security of MPC (Multi-Party Computation) technology. As per Copper, its services and tech are proven effective across 250 digital assets, over 40 exchanges, and 300 institutional asset managers.
Following this, the leaders of both companies expressed their excitement regarding the collaboration. Beniamin Mincu, Elrond Network CEO, said,
Best in class digital asset custody services are essential for making the rapidly expanding Elrond ecosystem accessible to more institutional actors, markets, and geographies. With Copper as a robust custodian for assets on the Elrond Network, a new growth chapter is ready to begin for the internet-scale blockchain.
In addition, Alex Ryvkin, Chief Product Officer of Copper.co also noted that by expanding their technologies to include Elrond Network, they reaffirm their commitment towards their customers. This is “to enable safe, secure, and transparent access and control over the most innovative and sustainable digital assets,” added Ryvkin. Moreover, the partnership between the two firms will create many opportunities. Thus, businesses and individuals will get safe, secure, and compliant access to the high throughput, low cost, carbon-negative Elrond Network blockchain technology, and EGLD, the digital currency underpinning it.