Copper has partnered with Circle to bring expanded USDC functionality to institutional clients using Copper’s ClearLoop off-exchange settlement solution.
The partnership with Circle allows Copper clients to convert off-exchange balances into USDC and use the stablecoin for instant trading and settlement across connected exchanges, without moving assets out of Copper’s secure custody solution.
By combining ClearLoop with USDC, a digital dollar, fully-backed by highly liquid cash and cash-equivalent assets, institutions can benefit from greater capital efficiency and faster trade execution.
Ben Lorente, Strategic Alliances director at Copper said in a statement: “Together, Copper and Circle are committed to providing flexible trading options with USDC that can be used within Copper ClearLoop which enables clients to manage collateral and settle trades across multiple exchanges, while mitigating counterparty risk and increasing capital efficiency.”
“Circle and Copper remain committed to building trusted infrastructure. This further integration of USDC into Copper’s platform will help streamline settlement and unlock new utility for USDC across exchanges,” said Sanja Kon, VP of Partnerships and Business Development in Europe at Circle, in a statement.