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Maps.me: Copper Provides Secure Custody for OXY and MAPS Tokens, Supporting Growing Investor Demand for DeFi

·4-min read

DGAP-News: Maps.me / Key word(s): Miscellaneous
17.09.2021 / 16:55
The issuer is solely responsible for the content of this announcement.

Copper Provides Secure Custody for OXY and MAPS Tokens, Supporting Growing Investor Demand for DeFi

Copper provides secure custody for OXY and MAPS tokens, supporting growing investor demand for DeFi

LONDON, UK / ACCESSWIRE / September 17, 2021 / Copper.co, a leading provider of digital asset custody and trading solutions, today announced that it now provides custody for OXY and MAPS, the tokens powering the Oxygen and Maps.me ecosystems.

Oxygen and Maps.me are built on the growing and liquid Serum ecosystem which leverages an on-chain orderbook for decentralised trading and to match borrowers and lenders. Serum itself is powered by the fast and low-cost Solana blockchain.

Custody of OXY and MAPS on the Copper platform will support investment in these DeFi projects from institutional investors, who require the highest level of security for the custody of their digital assets.

Copper's multi-award-winning custody solution harnesses the security of MPC (Multi-Party Computation) technology, which creates three separated key shards rather than one private key, largely eliminating the risk of key exposure in online transactions. Over 300 institutions already use Copper's digital asset custody solutions.

Alex Grebnev, Co-Founder of Oxygen and Maps.me, commented: "Working with Copper reflects the continuing commitment of the Oxygen and Maps.me ecosystems to integrate with the broader digital asset landscape, as well as to become more accessible to mainstream institutional investors. Providing liquidity and safe storage for new and existing investors will continue to be a critical part of the roadmap for developing the Oxygen and Maps.me ecosystems, which aim to build alternative market infrastructure for DeFi and drive its mass adoption."

Dmitry Tokarev, CEO, Copper, commented: "We're delighted to be supporting the development of the Oxygen and Maps.me ecosystems and the growth of investment in DeFi with our agile and secure custody. There is great potential for us to extend our partnership - for example, by looking at how we could connect our institutional clients with Oxygen's alternative market infrastructure - and we will continue to explore how we can work together further."

About Copper

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 250 digital assets and more than 40 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, including access to margin lending trading facilities and the DeFi space.

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

About Oxygen

Oxygen is an alternative market infrastructure ecosystem, built on the fast-growing and liquid Serum ecosystem and running on Solana's scalable blockchain. As a DeFi protocol, Oxygen is part of a movement to create a more efficient and open financial system - or 'Finance without Wall Street' - that replicates the constructs of traditional finance without centralized control and intermediaries. Oxygen.org AG is based in Switzerland, which is recognized as an advanced jurisdiction for distributed ledger technology. Oxygen works with a Big Four audit firm, with Kudelsky Security (a leading independent provider of tailored cybersecurity solutions for large enterprise and public sectorclients) and with international legal advisers to ensure asset safety and regulatory compliance.

For more information, visit https://www.oxygen.org/

About Maps.me

Maps.me is the world's leading off-line mapping application for travelers. Launched in 2011 it has been downloaded more than 140 million times. More than 60 million users worldwide were active in 2020, using the app to plan and navigate journeys in 195 countries. Maps.me is integrating financial services including payments, foreign exchange and passive income generation, becoming part of a new generation of decentralized finance (DeFi) platforms that use smart contracts to allow users to transact directly with each other, rather than via a financial institution. Through the Maps.me Wallet, users can also enjoy a range of exciting rewards including eSIM connectivity, cashback opportunities and discounts.

For more information, visit https://maps.me/

Media inquiries:

Copper.co
Chanice Smith Copper@cicero-group.com | +44 (0) 7850 229 457

Oxygen
Adam Harper (Hong Kong) adam@calibercorporateadvisers.com
Scott Krady (USA) scottk@calibercorporateadvisers.com

SOURCE: Maps.me

 


17.09.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

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