Welcome to TOKEN2049 London: Boris Bohrer-Bilowitzki, Copper.co

good morning if something is waking you up it's definitely this so um welcome everybody to um token 2049 on behalf of copper as well i would like to welcome you to those two days it seems obviously that the times of um sitting in front of your screen at home just in a nicely iron shirt and no pants are over we're all meeting again face to face which is good um i'm very much looking forward and i'm sure you as well to two days of interesting conversations about our industry what has happened what is going on right now and especially what is going to happen going forward um the last four years since the existence of copper i'm going to give you a little bit of an insight into what we do um and i'm going to kind of keep you a little bit as suspense because we are um i'm going to have another keynote tomorrow where i'm going to go into far more detail but um in a nutshell just as an introduction my name is boris beliwicki i'm one of the founding partners and the chief reverend officer of copper some of you might know us i'm pretty sure you do some of you maybe have not heard of us yet we are a custodian at heart that started about four years ago where we saw the need in order to build something out on that front since then a lot of things has happened with the business due to the needs that the market was kind of throwing at us the custody that underpins it all is npc based i'm sure you've um mostly if you're working crypto you've heard what that is multi-party computation is available in different temperatures hot cold and warm um and over the time we have um created a lot of additional products that were important for a ever so growing institutionalization of this market now for the last four years myself and many of you in the audience as well you potentially have attended events like this and you will have heard like institutions are coming institutions are coming up until that point there was not much that was actually going on to be quite frank it was very much crypto native things have changed especially over the course of the last year and a half due to various reasons it's become more mainstream if you turn on bloomberg if you turn on cnbc you see bitcoin as a ticker on the bottom right but especially the infrastructure has changed from the custodial side that kind of where it all kind of begins together of course with the execution piece a lot of things a lot of innovation was done um over the course of the last four years and especially over the course of the last um one and a half years on our side what we do apart from the custody that underpins everything we've got the ability for you to have a secure trading infrastructure that basically allows you to manage your treasury across various venues staking capabilities defy basically a one-stop shop for anybody that would like to have a institutional setup now client-wise just to kind of give you a little bit of a overview there we currently have around 400 clients uh way north of 15 billion in assets under custody we um 60 of the client base are crypto funds that's really what happened first in the late 2018s and subsequently coin foundations market makers prop shops and so on um there is one distinct product that you will hopefully hear about quite a lot and i really want to spend some time on this because it changes the way that you interact especially with exchanges there are inherent risks that are available especially if you come from the more traditional side and you will ask yourself why exchanges are also acting as custodians segregations of duties are absolutely crucial and what we've built is a product called clear loop and clear loop is the ability for you to hold assets in custody in third party custody and ultimately all you do is ping tradable balances to the venues but the assets are not moving which means that you have two things that are being solved on the one side counterparty risk that you incur with the exchanges if you have a compliance department it's going to be very hard especially more from the traditional side to convince them to pre-fund an exchange that is situated and or regulated on the island of barbuda second of all the more important part is capital efficiency [Music] what that basically means is that you have the ability to move funds from one exchange to the other in milliseconds instead of having to do anything on chain um and well on chain that solves a lot of problems in terms of cost but mainly the capital efficiency part if you trade on various venues um especially on the derivative side you would have that capital sitting there that basically um it's just there in case that the market is very volatile and you would need to top up so it solves a lot of problems on that front and where we are standing right now and what we're seeing is the inflow of capital that we were wishing to see over the course of the last four years and we're very very excited that this is happening which is of course part of this whole event that you will have here for the next two days and of course the ability to network the ability to ask a lot of questions please come and find us there are a lot of guys with copper shielas that you will find they will have all the answers for you should you want them and of course everybody else that is attending and sponsoring um in this case i really don't want to keep you for too long this early morning because i don't think this is necessarily the stuff that you want to hear just after you hear a lot of drums going um what i would suggest is that um you have a great time i'm very very happy to welcome you all again on behalf of token2049 and copper and i wish you um a very fruitful and successful two days and uh ask all the questions because if you want to see some answers that's where you will find them so um thank you very much and have a good day [Applause]