London-based cryptocurrency infrastructure provider Copper has announced complete integration with Signature Bank’s Signet, a blockchain-based digital payments platform.
The integration will enable Copper customers to instantly pay and settle transactions in US dollars and other currencies through the Copper platform.
It will also reduce the time that it takes asset managers to transfer traditional currencies between a bank account and trading environment.
One of the unique aspects of Copper’s business is its method of moving digital assets between cold storage and exchange accounts.
When this is paired together with Signet’s ability to rapidly move fiat currency, funds investing into cryptocurrency are now in a stronger position to take advantage of each and every trading opportunity.
A number of leading exchanges have already connected to Signature Bank’s Signet platform and Copper’s Walled Garden, including: Bitstamp, Huobi, Kraken, OKCoin and LMAX.
Delighted to announce the integration of Signature Bank services into our platform! The integration marks a pivotal step in our mission to enhance client experience & ensure that our platform remains functional & valuable https://t.co/isv1iE8CbQ pic.twitter.com/TbqPQkU9yr
— Copper.co (@CopperHQ) July 17, 2020
Dmitry Tokarev, Chief Executive Officer at Copper, said: “Cryptocurrency’s progression into mainstream finance has been hamstrung by a series of issues. The first challenge was storage, which we solved with our award-winning custody solution. Since then, we have introduced prime brokerage services, off exchange settlements in the form of ClearLoop, complete portfolio management and trade execution.
“We believe we are building the infrastructure for the next generation of financial services, and this integration with Signature Bank’s Signet platform demonstrates how innovation, collaboration, and a commitment to building products for our clients will enable crypto to take its place in the financial services mainstream. We now look forward to further integrating our framework with additional Signature Bank products and services.”
Joseph DePaolo, President and CEO at Signature Bank, added: “Signet was specifically designed to meet the needs of innovative firms building and impacting the next generation of advancements in the fintech arena. Our integration into Copper’s Walled Garden is an excellent example of how complementary technologies can enhance the offerings of our commercial clients using Signet as they strive to gain a competitive advantage within a highly competitive space.”
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Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.