As the blockchain landscape grows, understanding the significance of cross-chain interoperability is essential for anyone interested in the future copper integrates support for token standards on the internet computer blockchain

Copper Integrates Support for Token Standards on the Internet Computer Blockchain

Last Updated: July 22, 2024By

Copper, a prominent digital asset custodian, has amplified its collaboration with the DFINITY Foundation, ushering in a new era of secure asset management for institutional investors.

This strategic development enables institutions to safely handle assets like ckBTC, a multi-chain Bitcoin counterpart, along with other chain-key tokens such as ckETH and ckUSDC. Moreover, it offers secure custody and staking solutions for Internet Computer (ICP) assets, enhancing institutional engagement with the ICP ecosystem.

The partnership also opens access to the Service Nervous System (SNS) and Internet Computer Request for Comments (ICRC) token standards, signifying a pivotal phase of institutional integration within the ICP framework.

Blockchain Interoperability

Chain Fusion technology is a cornerstone of this collaboration, promoting seamless interoperability with major blockchains. This technology empowers ICP smart contracts to interact directly with Bitcoin (BTC), Ethereum (ETH), and other networks, thereby advancing the decentralized finance (DeFi) and Web3 ecosystems. It supports widely-used decentralized applications (dApps), including OpenChat, Dragginz, and ELENA AI.

Marcos Benitez, Copper’s Head of Sales in Switzerland, voiced enthusiasm about the integration, underscoring Copper’s commitment to enhancing access to essential capital within the ecosystem. “With this development, we anticipate facilitating greater access to vital capital for the ecosystem, including funds, venture capitalists, and exchange listings,” Benitez stated. “Our dedication to bolstering the Swiss and Global Web3 ecosystem remains resolute, and we foresee continued progress and innovation in this dynamic space.”

Read more: Copper Secures Crucial License in Hong Kong, Amplifying Asia Pacific Expansion

Commitment to Innovation

Copper’s collaboration coincides with the launch of Valour Inc.’s ICP exchange-traded product (ETP), for which Copper acts as the custody provider. This partnership underscores a mutual commitment to driving innovation and expanding the digital asset ecosystem. It provides institutions with secure and reliable solutions to navigate the evolving landscape of decentralized finance.

In summary, Copper’s enhanced support for the Internet Computer Blockchain’s token standards represents a significant advancement in institutional digital asset management, fostering greater blockchain interoperability and further integrating the DeFi and Web3 ecosystems. This strategic move not only solidifies Copper’s role in the digital finance sector but also propels the ICP ecosystem towards new heights of innovation and accessibility.

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About the Author: Eunji Lim

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