We are delighted to announce our partnership with Copper, the digital asset infrastructure provider. From today, BVNK users can allocate cryptocurrencies to earn yield under the protection of Copper’s fully insured and secure custody solutions.
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, our flagship Yield service enables users to generate returns that typically range between 4% and 8% APY in USD Coin (USDC) / Tether (USDT) without 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.
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