Copper Integrates Signature Bank’s Signet Easing Fiat Settlement

Copper, a cryptocurrency custodian and prime brokerage, has announced the integration of Signet, the Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term-based Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term platform of Signature Bank.

This will enable Copper customers to instantly pay and settle transactions in US dollars and other currencies directly through the Copper platform.

The announcement also highlighted that the integration will also reduce the time and other issues that asset managers face in transferring traditional currencies between a bank account and a trading environment.

“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,” Dmitry Tokarev, co-founder and CEO at Copper, said.

“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.”

Bringing banking to crypto

The New York-based bank is focusing on the lucrative crypto industry which is already deprived of banking support. Its Signet offers the ability to rapidly move fiat currency using the decentralized infrastructure.

Apart from Copper, many other prominent exchanges including Bitstamp, Huobi, Kraken, OKCoin, and LMAX also connected to the Signet platform.

He also detailed that Copper is also considering to integrate its framework with additional Signature Bank products and services.

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