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Crypto Lending Platform Lendingblock Migrates to Copper for Custodial and Prime Services

Entrusting custody of our client’s digital assets to Copper’s award-winning architecture gives us the best security in the market, allowing us to continue to support our rapidly growing customer base”
— Steve Swain
LONDON, UNITED_KINGDOM, May 16, 2022 / -- Lendingblock, the GFSC regulated Digital Asset Lending platform, announced today that (“Copper”) will provide digital asset custody and trade execution services to secure its underlying assets.

Steve Swain, Co-Founder and CEO of Lendingblock said, “Entrusting custody of our client’s digital assets to Copper’s award-winning architecture gives us the best security in the market. With this cornerstone in place, we can continue to support our rapidly growing customer base with confidence.”

Copper’s custody uses multi-party computation technology. With MPC, key shards are formed simultaneously and in isolation, one shard each is entrusted to the client, their trusted third party, and Copper. These shards allow transactions to be signed online without the risk of private key exposure because there is no longer one private key. This largely eliminates the risk of key exposure in online transactions. Lendingblock will also take advantage of Copper’s API enabled eOTC Trading capability, which will allow Lendingblock’s customers to benefit from prices provided by more than thirty underlying exchanges.

Alex Ryvkin, Chief Product Officer of Copper said, “We are delighted to be supporting Lendingblock. Borrowing and earning are a fundamental part of the digital asset ecosystem, and it is a pleasure to be working with Lendingblock as they grow.”

About Lendingblock
Lendingblock is a cryptocurrency lending and borrowing platform formed in 2018. With the initial focus on building a lending and borrowing exchange for institutional clients, Lendingblock now offers use of its proprietary technology under SaaS and licencing agreements, with the first of such licencing agreements announced in 2021 with the Eqonex Group (NASDAQ listed digital asset exchange, formerly known as Diginex). In October 2021, Lendingblock launched its retail lending and borrowing platform, empowering individuals to earn interest on or borrow against their cryptocurrency holdings using an institutional-grade platform.

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Founded in 2018, Copper provides a gateway into the crypto asset space for institutional investors by offering custody, trading, and settlement solutions across 450 crypto-assets and more than 45 exchanges. It is committed to providing flexible solutions for institutional investors that can adapt to the changing crypto asset space, while enabling far greater transparency and control for asset managers.

Copper’s fully integrated products are unique in the crypto-asset space. Underpinned by multi-award-winning custody, Copper has built the most 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 multiple networks. Integrated with market leading spot and derivative crypto exchanges, ClearLoop has already transformed the way in which institutional investors can engage in the crypto asset space since it was launched in May 2020.
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Steve Swain
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