Copper recap | October'24
Where to begin? The election that has buoyed all markets and strengthened the US Dollar? Or maybe the record-breaking streaks in Bitcoin, from weekly gains to consecutive green candles? Perhaps it’s UBS—yes, the $5.7 trillion behemoth—issuing a money market fund on Ethereum. Or Franklin Templeton, boldly comparing tokenized asset clearing costs of a few dollars to the tens of thousands spent on legacy systems. And let’s not forget Robinhood CEO Vlad Tenev, who pointed out how much cheaper it is to run their crypto arm, underlining the clear business benefits of digital assets. Maybe it's all of it.
As we enter the final weeks of 2024—a year marked by the institutional embrace of crypto—many indicators are showing promise. Bitcoin has secured its place in mainstream portfolio diversification; asset managers have moved from pilot projects to full launches, and crypto firms are maturing, shifting their focus beyond retail. The shenanigans are over, and the adults have stepped in.
Meanwhile, DeFi Total Value Locked (TVL) just hit its annual peak this week, and stablecoin supply is up $40 billion since the start of the year, just 10% below its 2022 high. Funding rates are rising in derivatives markets, and open interest is close to its highest levels yet.
Product updates snapshot
ClearLoop
Copper’s off-exchange settlement solution continues to thrive, safeguarding client assets, and mitigating risk. We look forward to further integrations and unveiling new collaborations in the coming months.
Key product updates
Our Product and Engineering teams have been hard at work to grow and improve our existing product suite, adding support for new networks, tokens, staking features and UI upgrades.
Tri-party collateral management solution for OTC derivatives
We launched our tri-party collateral management solution for OTC derivatives, initially in partnership with DV Chain’s structured products desk, Centaur Markets. Read more →
Copper partners with CryptoStruct
CryptoStruct and Copper partner combining the power of low-latency market data with robust security. Read more →
Copper has partnered with CRYMBO
CRYMBO uses a single API to connect to ecosystems serving as a cryptocurrency gateway under the secure custody of Copper. Read more →
New token added
We have added custody support for Radix (XRD) further expanding our custodial offering and trading options via Walled Garden.
To see the full details of all of Copper’s listed digital assets, see our platform connectivity hub →
Recent news
Amar Kuchinad as Global CEO
The appointment of Amar Kuchinad aims to drive Copper's global growth strategy focusing on strengthening its US presence and its wider position across global financial centres, with Dmitry Tokarev to continue as Founder Director on Copper's Board. Read more →
Opening bell
Prepare for the week ahead, with 'The Opening bell’ a weekly report, crafted by our Research Team, providing a concise yet comprehensive overview of the latest data trends and analyses. Subscribe on LinkedIn. Read more →
CopperCasts
The latest insightful episode of CopperCasts features Alex Ryvkin, Founder and CEO, on the topic 'Blending rates, blended tech'. Stream episode in full →
Regional updates
APAC
Hong Kong FinTech Week
Copper APAC team were at HKFW connecting with the global FinTech community throughout the week, during which we partnered with DigiFT to co-host the institutional RWA mixer. Read more→
AMERICAS
Rooftop networking with Web3 friends
The evening was filled with engaging discussions and valuable connections in NYC in partnership with 21Shares and Stacks. Read more→
Crypto Investor Day
Copper attended Reflexivity Research's Crypto Investor Day in NYC, with CCO Michael Roberts on stage discussing institutional infrastructure in crypto.
EMEA
J.P. Morgan Tech Stars
Dmitry Tokarev spoke at this year's J.P. Morgan's Tech Stars Conference in EMEA for a dedicated panel on digital assets alongside Bitpanda and Blockchain.com.
Bitcoin Amsterdam
We teamed up with Bitvavo and CoinCover to host a networking reception as part of Bitcoin Amsterdam.
Diwali 2024
Copper offices celebrated Diwali, the Festival of Lights and marked the occasion with a special evening at CopperHQ.
New starters at Copper
Copper's talent acquisition team hosted a new starters networking session, a chance for all colleagues to connect with new faces and fellow peers. Read more→
MENA
AIM Summit Dubai
Simon Morgan, CCO at Copper Securities, joined on 'The advent of real-world assets backed yield bearing stablecoins' panel at the AIM Summit.
Disclaimer.
THE INFORMATION CONTAINED WITHIN THIS COMMUNICATION IS FOR INSTITUTIONAL CLIENTS AND PROFESSIONAL AND SOPHISTICATED MARKET PARTICIPANTS ONLY. THE VALUE OF DIGITAL ASSETS MAY GO DOWN AND YOUR CAPITAL AND ASSETS MAY BE AT RISK.
Copper Markets (Switzerland) AG (“Copper”) provides various digital assets services (“Crypto Asset Service”) to professional and institutional clients in accordance with the Swiss Federal Act on Financial Services (FinSa) of 15 June 2018 as amended and restated from time to time. This material has been prepared for informational purposes only without regard to any individual investment objectives, financial situation, or means, and Copper is not soliciting any action based upon it. This material is not to be construed as a recommendation; or an offer to buy or sell; or the solicitation of an offer to buy or sell any security, financial product, or instrument; or to participate in any particular trading strategy in any jurisdiction in which such an offer or solicitation, or trading strategy would be illegal. Certain transactions, including those in digital assets, give rise to substantial risk and are not suitable for all investors. Although this material is based upon information that Copper considers reliable, Copper does not represent that this material is accurate, current, or complete and it should not be relied upon as such. Copper expressly disclaims any implied warranty for the use or the results of the use of the services with respect to their correctness, quality, accuracy, completeness, reliability, performance, timeliness, or continued availability. The fact that Copper has made the data and services available to you constitutes neither a recommendation that you enter into a particular transaction nor a representation that any product described herein is suitable or appropriate for you. Many of the products described involve significant risks, and you should not enter into any transactions unless you have fully understood all such risks and have independently determined that such transactions are appropriate for you. Any discussion of the risks contained herein with respect to any product should not be considered to be a disclosure of all risks or complete discussion of the risks which are mentioned. You should neither construe any of the material contained herein as business, financial, investment, hedging, trading, legal, regulatory, tax, or accounting advice nor make this service the primary basis for any investment decisions made by or on behalf of you, your accountants, or your managed or fiduciary accounts, and you may want to consult your business advisor, attorney, and tax and accounting advisors concerning any contemplated transactions. Digital assets are considered very high risk, speculative investments and the value of digital assets can be extremely volatile. A sophisticated, technical knowledge may be needed to fully understand the characteristics of, and the risk associated with, particular digital assets. Copper is a member of the Financial Services Standard Association (VQF), a self-regulatory organization for anti-money laundering purposes (SRO) pursuant to the Swiss Federal Act on Combating Money Laundering and Terrorist Financing (AMLA) of 10 October 1997 as amended. Business conducted by us in connection with the Crypto Asset Service is not covered by the Swiss depositor protection scheme (Einlagensicherung) or the Financial Services Compensation Scheme and you will not be eligible to refer any complaint relating to the Crypto Asset Service to the Swiss Banking Ombudsman. It is your responsibility to comply with any rules and regulations applicable to you in your country of residence, incorporation, or registered office and/or country from which you access the Crypto Asset Service, as applicable.