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Copper integrates Signature Bank’s digital payments platform- Signet

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July 20, 2020

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Copper.coLondon-based digital asset infrastructure provider, Copper has announced the completion of its integration with Signature Bank’s blockchain-based digital payments platform, Signet. The alliance is expected to enable Copper customers to pay and settle transactions instantly in US dollars and other currencies through the Copper platform. The development aims to reduce the time taken along with other issues faced by asset managers while transferring traditional currencies.

Dmitry Tokarev, Chief Executive Officer at Copper.co, 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.”

According to Copper, its Walled Garden infrastructure is a secure method of moving digital assets between cold storage and exchange accounts. Signet’s integration allows quick movement of fiat currencies, thus allowing funds investing in cryptocurrencies to benefit from every trading opportunity. Recently, Copper announced that it has joined the Official Monetary and Financial Institutions Forum’s (OMFIF) Digital Monetary Institute (DMI) as a founding member.

Joseph DePaolo, President and CEO at Signature Bank, said, “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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