Copper.co integrates Elrond technology to provide custody services for the EGLD digital currency

Copper.co, a leading provider of digital asset infrastructure and trading solutions, has integrated Elrond (EGLD/USD) Network’s internet-scale blockchain protocol to provide custody services for assets issued on the Elrond blockchain as well as the Elrond token, EGLD, Invezz learned from a press release. This is the network’s native settlement and utility token with limited supply. It’s used for the issuance of tokenized assets and non-fungible tokens (NFTs), transaction fees, DeFi products, and staking on the Elrond consensus layer.

Elrond brings thousand-fold improvement in throughput and execution

To ensure thousand-fold increase of execution speed, Elrond introduces a Secure Proof of Stake (PoS) algorithm and an innovative Adaptive State Sharding mechanism. These enable it to process more than 15,000 transactions per second (TPS) with negligible cost and latency.

Beniamin Mincu, Elrond Network CEO, said:

Copper harnesses MPC technology security

Copper’s custody solution, which has won multiple awards, uses the security of Multi-Party Computation technology. Their technology and services are used by more than 300 institutional asset managers and have been tested on 250 digital assets. ClearLoop, a framework that connects exchanges in one secure trading loop with settlement in real time, builds the basis of Copper’s infrastructure. Since its launch in May of last year, it has transformed how investors interact in the crypto asset space.

Alex Ryvkin, Chief Product Officer, Copper.co, said:

The partnership between Elrond and Copper is aimed at creating the opportunity for exchanges, fund managers, institutional players, trading avenues, and other market players to get compliant, secure, and safe access to the impressive capacity of Elrond Network blockchain technology.