State Street, a Boston-based bank, has signed a license agreement with Copper.co to develop and launch an enterprise-grade crypto custody product. The preparation of eBay, one of the largest e-commerce platforms in the world, for crypto money integration in March confirms that institutions continue their crypto money work without slowing down. According to the announcement made by State Street, Bitcoin and 3 popular altcoins will now be protected through a reliable digital wallet custodian service. As Kriptokoin.com, we are providing the details…
State Street signed an institutional crypto custody agreement with Copper.co
Boston-based giant bank announced a new crypto custody offer in partnership with UK-based custody startup Copper . According to the announcement, State Street’s storage product will be “subject to regulatory approval.” The bank also announced last June that it is expanding its digital reach to include crypto, central bank cryptocurrency (CBDC), blockchain and tokenization, and will upgrade its existing GlobalLink platform to a multi-asset crypto trading system. State Street announced its partnership with Copper in a press release today:
Copper to develop and launch an enterprise-grade crypto custody offering where customers can store and place their cryptocurrencies in a secure environment operated by State Street, subject to regulatory and other approvals. will benefit from co’s technology.
The platform will store bank customers’ Bitcoin, ADA, SOL and a range of cryptocurrencies
Copper, which focuses on eliminating the risks that may occur when institutions invest in cryptocurrencies. co firm is preparing to hold the following cryptocurrencies of State Street clients.
- Polkadot (DOT)
- Solana (SOL)
- Bitcoin (BTC)
- Ethereum (ETH)
- Cardano (ADA)
- Apart from these, various altcoins will be included.
The value of full assets under State Street Digital’s custody was $43.7 trillion as of December. Swen Werner, head of digital custody of the bank, emphasized that the Copper.co partnership will help them expand into rapidly adopted cryptocurrencies:
As the cryptocurrency market continues to evolve, this collaboration will help our firm expand our product offering and roadmap.
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