Copper to Offer Custody Services for Tokenized Money Market Funds Such as BlackRock's BUIDL
Summary
Copper now offers secure custody and trading of tokenized money market funds, including Blackrock's BUIDL, after receiving regulatory approval from the FSRA in Abu Dhabi. Clients can use these funds as collateral in derivatives trades. Copper has partnered with Securitize, Franklin Templeton, Ondo, and Hashnote for tokenization efforts. Tokenized Treasuries represent U.S. government bonds on blockchains like Ethereum, enabling faster trades. The tokenized Treasury market has grown from $780 million to $2.3 billion this year. Amar Kuchinad, Copper's new global CEO, highlights potential enhanced returns from tokenized funds.
