Copper will provide Hehmeyer with a custody solution for assets and off-exchange settlement functionality.
The deal will also see Copper provide its ‘Walled Garden’ infrastructure technology as well as ClearLoop, which allows real time settlement across a variety of networks, and internal treasury management.
Under the agreement, which begins with immediate effect, Copper will provide Hehmeyer with the following combination of technology and services to ensure a safe and robust trading environment for Hehmeyer and its assets.
Dmitry Tokarev, CEO of Copper.co, said: “At a time where interest in crypto assets is soaring, we are proud to support a market maker of Hehmeyer’s calibre in its mission to encourage participation in the crypto space.
We have been selected as custodian for @HehmeyerLLC, the Chicago-based global market maker in digital assets.
— Copper (@CopperHQ) January 12, 2021
“A major roadblock to this, however, is the perceived security risks of managing assets and navigating multiple exchanges. The bespoke, three-pronged solution we have built for Hehmeyer bypasses these risks. Copper technology will allow Hehmeyer to make markets secure in the knowledge that their assets are safe.”
Christopher Hehmeyer, founder and CEO of Hehmeyer, added: “Since our crypto-focused restructure in the summer, it has been our mission to create transaction freedom for cryptocurrencies.
“We firmly believe that partnering with a quality custodian and prime broker of Copper’s calibre is the most effective way to introduce more and better control into the space.
“We have been continually impressed by the market-leading solutions Copper creates and the control it is able to return to owners of digital assets – particularly across a broad range of exchanges – reducing risk and expense for participants in cryptoassets.”
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.