Elrond Network announces the integration of its technology by Copper.co

By Joy Dumasia

Elrond Network, the developers of the eponymous internet-scale blockchain protocol, announced that the technology it creates had been integrated by Copper.co, a leading provider of digital asset infrastructure and trading solutions, which will enable it to provide custody services for the EGLD digital currency and assets issued on the Elrond blockchain.

EGLD is the native, capped supply utility and settlement token of the Elrond Network. The token is used for transaction fees, staking on the Elrond consensus layer, decentralized financial products, and tokenized assets and non-fungible tokens (NFTs).

Through the collaboration, the two partners will create the opportunity for institutional players, fund managers, exchanges, trading avenues, and other market actors to get safe, secure, and compliant access to the enterprise-ready capabilities of the high throughput, low cost, carbon-negative Elrond Network blockchain technology, and EGLD, the digital currency underpinning it.

Beniamin Mincu, Elrond Network CEO, said: “Best in class digital asset custody services are essential for making the rapidly expanding Elrond ecosystem accessible to more institutional actors, markets, and geographies. With Copper as a robust custodian for assets on the Elrond Network, a new growth chapter is ready to begin for the internet-scale blockchain.”

Alex Ryvkin, Chief Product Officer, Copper.co, said: “By expanding our portfolio of integrated technologies to include the highly innovative and carbon-negative Elrond Network, we reaffirm our commitment towards our customers to enable safe, secure, and transparent access and control over the most innovative and sustainable digital assets.”

Recently, IBS Intelligence reported that Copper. co, a digital asset custody and trading solutions provider, announced that it would provide staking services for the Oasis ROSE token. The Oasis Network is a rapidly growing ecosystem consisting of industry-leading app developers, blockchain infrastructure teams, node operators, universities, and more. It is a next-generation blockchain that decouples the application layer’s consensus layer, allowing greater scalability, versatility, and privacy.