Copper and DFINITY Partner to Enhance ICP Staking for Investors

Copper has expanded its partnership with the DFINITY Foundation to offer enhanced custody and staking for Internet Computer (ICP) assets. This collaboration provides institutional investors with secure access to ICP’s growing DeFi and Web3 ecosystem. The partnership leverages advanced chain-key technology and innovative token standards to ensure comprehensive support for a wide range of digital assets.

Key Takeaways

• Enhanced Custody and Staking: Copper now offers secure custody and staking for ICP assets, benefiting institutional investors.

• Access to Advanced Token Standards: Clients gain access to SNS and ICRC token standards, enhancing governance and functionality.

• Support for DeFi Ecosystem: The partnership strengthens access to ICP’s DeFi and Web3 dApps, including tokens like ckBTC.

Copper Enhances ICP Asset Custody and Staking for Institutional Investors

Copper, a leading digital asset custodian, announced its partnership with the DFINITY Foundation, a Swiss not-for-profit organization known for its contributions to the Internet Computer (ICP). This collaboration enables institutional investors to securely custody and stake their ICP assets directly on the Copper Platform.

Secure Access to SNS and ICRC Token Standards

Copper will provide clients with secure access to the Service Nervous System (SNS) and the Internet Computer Request for Comments (ICRC) token standards on the Internet Computer blockchain. The SNS allows communities to govern smart contracts and dApps on-chain, while the ICRC is a token standard developed by the Internet Computer working group.

Support for ICP’s DeFi and Web3 Ecosystem

This partnership extends institutional access to ICP’s growing DeFi and Web3 ecosystem, which includes hundreds of dApps like OpenChat, Dragginz, and ELENA AI. Copper’s clients will now have access to tokens powered by ICP’s innovative chain-key technology, such as ckBTC, with more tokens to be available for custody soon.

Read more: What is OLAS Crypto? The Crypto Autonomous Services

Chain-Key Technology and Token Interoperability

Backed 1:1 by Bitcoin (BTC), ckBTC is a multi-chain Bitcoin twin created through chain-key cryptography and Internet Computer smart contracts that directly hold Bitcoin. ICP’s Chain Fusion technology enables these chain-key tokens, allowing interoperability with major blockchains like Bitcoin, Ethereum, and soon Solana, without relying on any trusted intermediaries.

ICP Smart Contracts and Multi-Chain Capabilities

Unique among blockchains, ICP smart contracts can read from and write to different chains, enabling developers to create smart contracts that span multiple chains. Tokens like ckETH and ckUSDC are already live, with more chain-key twins of ERC20 tokens expected in the coming months.

Empowering Institutions with Secure DeFi Solutions

Together, Copper and ICP aim to provide institutions with secure, reliable, and data-driven solutions for navigating the rapidly evolving decentralized finance landscape.

Read more: What is Yield Farming? Earning Rewards through DeFi Investments

Conclusion

Copper’s partnership with the DFINITY Foundation marks a significant step in providing institutional investors with secure and advanced custody solutions for ICP assets. By leveraging cutting-edge technology and supporting a broad range of tokens, this collaboration aims to enhance the functionality and governance of digital assets within the DeFi and Web3 ecosystem.

FAQ

What services does Copper provide for digital assets?

Copper offers secure custody, staking, and asset management services for institutional investors, ensuring safe and reliable handling of digital assets.

What is the DFINITY Foundation and its role in the Internet Computer?

The DFINITY Foundation is a Swiss not-for-profit organization that develops and maintains the Internet Computer, a blockchain platform designed to host smart contracts and decentralized applications (dApps).

What is the purpose of Copper’s partnership with the DFINITY Foundation?

The partnership aims to provide secure custody and staking solutions for ICP assets, enhancing institutional access to the Internet Computer ecosystem.