11th August, 2022
Climbing to an altitude: the challenge
In 2018, a newly-formed Copper and a team of mighty few occupied themselves with a dilemma: how to comprehensively integrate distributed ledger with finance and bring solutions to institutional investors in a rapidly evolving market.
At that time, Copper’s future clients didn’t foresee a world in which they were able to trade cryptocurrencies without moving assets to and from crypto exchanges exposing themselves to risks of hacked, frozen, or misappropriated assets.
It became Copper’s aim to create a global infrastructure that ensures connected trading with no single point of failure.
Cruising: the solution
A secure multi-party computation or MPC is a cryptographic method which allows parties to jointly compute a function with inputs private to each party. In order to securely generate a private key through the MPC method, a minimum required number of parties in a so-called “shard creation ceremony” is three: Copper’s client, Copper and a third trusted party.
In order to solve challenges for their clients and develop complementary solutions on a solid foundation, Copper had to find a trusted third party that could support the demanding MPC method and guarantee the dependability of the process.
Mitmark Intelligence, a risk advisory and threat mitigation company, employs former military, security and intelligence agency to ensure assets are fully protected from physical, communication and cyber risks with the use of intelligence and leadership skills. Mitmark Intelligence believes in organisational culture that is connected, consistent and unwavering.
Based on Mitmark’s track record and attributes, Copper became certain that it would be a great partner to develop solutions with for the long haul.
This is how in 2021 Nemean Services was born.
The organisation developed into a distinct entity with employees ranging in skillset and expertise second to none. Together with Copper, Nemean Services now works with 100+ clients in the financial and crypto sectors offering trusted third-party services for MPC method computations, cold storage, disaster recovery solutions and audits.
Entering outer space: the result
Copper has now developed into a powerhouse that integrates custody architecture with effortless digital asset trading and management for more than 500+ clients worldwide ranging from DeFi Funds, Trading Firms and Algo Funds to Retail Platforms and Exchanges. Growing in pace with the industry, Copper became a true and only leader in its space.
“At Nemean, we believe that security is like a parachute: if it didn’t function properly, one wouldn’t fly.”
