Copper.co’s Betty Sharples sat down with John Lothian News on the second day of FIA Boca 2022 to discuss industry growth, protecting digital assets, and her hope for regulatory solutions.
Betty Sharples is the business development director for the digital asset custodian Copper.co, which launched in 2018. Since its inception, Copper has provided custody, trading, and digital asset services across 450 crypto assets and over 40 different exchanges. Sharples said that Copper’s products and services all serve a purpose: to bring prime brokerage to the crypto space.
When asked about ways to protect digital assets, Sharples indicated that cryptography plays an important role. “Instead of creating a private key and putting it on a ledger…we create three shards using the cryptography.” She posed an example of the three shard system, where the client has one shard, Copper has one shard, and a trusted third party has one shard, and “if one shard were to get hacked, there’s no way that they’d able to recreate that private key since they only have the information of that one shard.”
Sharples also spoke about Copper’s hope for regulatory solutions. She said, “Copper has done everything with the knowledge and the belief that regulation is coming.” She added that the sooner the regulatory situation can be sorted out, the better, but there are some gray areas. With different Copper locations across London, Singapore, Switzerland, and the U.S., “we’re pursuing all regulatory possibilities.”
Sharples expressed her excitement to see Copper’s growth and noted that the company is filling a number of executive positions. “This time last year we didn’t have an enterprise team, and now we have one.” She said that this team was responsible for Copper’s collaboration with State Street, a financial services company that recently announced a licensing agreement with Copper.co in which State Street will develop digital custody for clients. According to Sharples, it all goes back to Copper wanting to pursue all regulatory possibilities in the US and abroad.