From today, BVNK, the digital asset-powered banking platform for global businesses, will offer its clients the ability to allocate cryptocurrencies to earn yield, benefiting from the underlying technology of ClearLoop, Copper’s unique instant settlement trading network.
Businesses worldwide are facing growing demand from customers, prospects and partners to incorporate digital assets into their treasury functions. With traditional finance providers unable to accommodate these requests, BVNK launched in October 2021 to address this gap in the banking market. Through the BVNK banking platform, BVNK clients can bridge between fiat currencies and digital assets to manage payments, yield, trading and custody.
With deposits starting at a minimum of US$50,000, BVNK’s flagship Yield service enables businesses to generate returns that typically range between 4% and 8% APY in USD Coin (USDC) and Tether (USDT). BVNK Yield is delivered via the largest and best-positioned institutional lending desks in the industry and entails no direct exposure to the volatility of cryptocurrency markets.
Integrating Copper’s ClearLoop technology into BVNK Yield means that BVNK clients can deploy digital assets to lending counterparties to earn returns without them ever leaving the protection of Copper’s custody. This not only diminishes counterparty and settlement risk but also allows for instant completion of transactions and access to funds.
Jesse Hemson-Struthers, BVNK’s CEO, said: “We launched BVNK to address a gap in the market and deliver digital-asset powered banking services to businesses. Thanks to Copper, BVNK can deliver something new and unique – secure access to institutional crypto lending for businesses to earn yield without digital assets ever leaving secure custody.”
Alex Ryvkin, Chief Product Officer, Copper, said: “We’re delighted that BVNK has chosen the speed and security of our ClearLoop technology to launch this new product. We look forward to future collaboration as they grow.”
Copper’s custody services are audited and certified annually to the ISO 27001 international security standard. To give client’s further assurance, Copper has a Crime insurance policy that is brokered by Aon and supported by a panel of S&P A+ rated insurers in the Lloyd’s of London insurance market. Copper is focused on delivering maximum security without compromising on control.
Headquartered in London, BVNK is the ‘go to’ digital asset-powered banking platform for global businesses. As the worlds of traditional finance and digital assets converge, we help businesses incorporate cryptocurrencies into corporate treasury operations. Via a single account, customers can bridge between fiat currencies and digital assets to manage payment, yield, trading and custody in support of their business goals. With a focus on regulatory compliance and acquiring appropriate licences, and through partnerships with best-in-class institutional crypto custody solutions, lending desks and liquidity pools, BVNK is the banking experience for crypto-native and crypto-curious businesses.
Founded in 2018 by Dmitry Tokarev, Copper provides a gateway into the cryptoasset space for institutional investors by offering custody, prime brokerage, and settlements across 450 digital assets and more than 45 exchanges. It is committed to providing flexible solutions for institutional investors that can adapt to the changing cryptoasset space, while enabling far greater transparency and control for asset managers.
Copper’s fully integrated products are unique in the cryptoasset space. Underpinned by multi-award-winning custody, Copper has built the comprehensive and secure suite of tools and services required to safely acquire, trade, and store cryptocurrencies.
At the core of Copper’s infrastructure is ClearLoop, a framework that connects the universe of exchanges in one secure trading loop — with real-time settlement across the Networks. Integrated with market leading spot and derivative crypto exchanges, ClearLoop has already transformed the way in which institutional investors can engage in the cryptoasset space since launching in May 2020.
For more information, please visit: www.copper.co