Description
Secure MPC Custody for Institutional Digital Assets
Copper delivers a multi-party computation (MPC) custody architecture purpose-built for institutional investors. Unlike traditional private-key-based solutions, Copper's system ensures no private key is ever created or assembled during transaction signing.
How It Works
- Three-Shard Model — Each wallet is controlled through three isolated entities: the client, Copper, and a Trusted Third Party. Shards can be stored offline (cold) or online (hot), giving clients full flexibility over vault configurations.
- 2-of-3 Quorum Signing — Every transaction requires approval from at least two out of three shard holders, adding a natural redundancy layer.
- Segregated Vaults — Funds are stored in segregated vaults at the blockchain level across 60+ networks and 600+ digital assets.
Key Features
- Policy Engine — Role-based access controls enabling granular permission settings, user-specific transaction limits, and custom approval workflows.
- Hot, Warm & Cold Vaults — Clients can select vault temperature per asset. Hot wallets sign automatically and instantly; cold wallet transactions are processed in minutes with 24/7/365 support from Copper's client services team.
- Insurance & Compliance — $500M specie market-based insurance through Lloyd's of London, placed with AON. SOC2 and ISO certified.
- Money Market Fund Token Support — Secure custody for tokenized money market funds from issuers like Hashnote, Securitize, Ondo, and Superstate.
Copper is trusted by pioneering institutions including Brevan Howard, 21Shares, and Fasanara, and is backed by investors such as Target Global, LocalGlobe, MMC Ventures, and Barclays.
Highlights
Pros
- Named "Best Digital Asset Custodian" by Hedge Week and HFM European Service Awards consecutively from 2018 to 2024, trusted by Brevan Howard, 21Shares, and Fasanara.
- $500 million specie market-based insurance through Lloyd's of London placed via AON, combined with SOC 2 and ISO certifications, provides best-in-class financial protection for institutional assets.
- Policy Engine delivers granular role-based access controls with customizable transaction limits, time-bound permissions, and flexible multi-approval workflows across all team accounts.
- ClearLoop off-exchange settlement network enables trading on major exchanges (Coinbase, OKX, Bybit, Deribit) while assets remain in Copper's custody, eliminating counterparty and exchange insolvency risk.
- Supports 600+ digital assets across 60+ blockchain networks with hot, warm, and cold vault flexibility, plus secure custody for tokenized money market funds from issuers like Ondo and Securitize.
- Three-shard MPC architecture splits each wallet across the client, Copper, and a trusted third party with a 2-of-3 quorum, ensuring no single entity can access funds and no private key is ever assembled.
Cons
- Platform is web-only with no mobile app for iOS or Android, limiting the ability to manage custody and transactions on the go.
- The 2-of-3 MPC model requires a trusted third-party shard holder, introducing an external dependency that some institutions may consider an additional trust assumption.
- Pricing is available only through custom enterprise quotes with no published rates, making it difficult for smaller firms to evaluate cost suitability without sales engagement.
- ClearLoop network connects to a limited set of exchanges (10+), which may not cover all venues that institutional clients require for their trading strategies.
- Operates across multiple jurisdictions (Switzerland and Liechtenstein), adding regulatory complexity for clients whose own compliance frameworks span different regions.
- Exclusively serves institutional clients (hedge funds, trading firms, ETP providers) and is not accessible to retail investors or individual users.