Hedera and Copper partner to further institutional access to HBAR

The HBAR Foundation and digital asset custody provider Copper have announced a collaboration aimed at expanding institutional access to the Hedera ecosystem.

As part of the partnership, Copper will provide crypto custody support for Hedera (HBAR) and enhance the blockchain network’s decentralized finance capabilities through staking. This collaboration with Copper will also extend institutional access to HBAR and the Hedera Token Service, the press release details.

Copper customers can stake HBAR

Institutional investors can now stake their HBAR via validators of their choice using Copper’s wallet infrastructure for DeFi transactions. The partnership also provides institutional access to HBAR trading via ClearLoop, Copper’s multi-exchange settlement solution.

Copper customers with funds in a decentralized finance vault will be able to interact with Hedera decentralized exchanges like SaucerSwap Labs and access HBAR and HTS token utility. This functionality will be available through the Ethereum-compatible Copper Connect.

“With the integration of Copper, institutional investors can now enter the Hedera ecosystem more easily and with confidence,” said Shayne Higdon, co-founder and CEO of HBAR Foundation.

Higdon added that Hedera will leverage Copper’s technology and security to support its growth in the crypto space.

Commenting on the integration, Copper CEO Dmitry Tokarev said:

“This is a valuable partnership for us, and the full development stack integration is further evidence of our shared commitment to providing robust custody solutions to institutional participants in the digital asset space.”

HBAR’s collaboration with Copper adds to a number of significant developments in the Hedera ecosystem that aim to advance institutional adoption of the proof-of-stake blockchain, including a partnership with FCA-regulated platform Archax to tokenize BlackRock’s money market fund on Hedera.

Archax is also the firm that will launch tokenized access to abrdn’s money market funds on both Hedera and Ethereum in 2023.