We have two custodial partners, Copper and Nemean Services.
Copper is our custodial partner that provides custodial infrastructure for CoinHQ in multiple forms.
Nemean services is a third-party disaster recovery agency that stores backups of CoinHQ key shards.
Unlike many other custodian services, both CoinHQ and none of our individual partners holds an entire digital key that can move funds.
Copper
Copper is a cryptocurrency custodial service that operates multiple levels of cryptocurrency custodian infrastructure.
Copper provides CoinHQ with warm, hot, and cold crypto custodial infrastructure. Having Copper as our custodian allows us to offer institutional grade cold custody to all CoinHQ customers.
We chose Copper as our custodian partner for a few main reasons:
Copper's MPC key sharding process is the best in class for protecting digital assets and is unlike any other competitors
Copper supports hundreds of cryptocurrencies
Copper offers cold custody staking, allowing staking of crypto assets in a secure offline environment
Copper offers custody insurance of USD $500m
Copper is one of a few custodians that offers a disaster recover service through a third-party
Copper is a registered company in Switzerland and is ISO27001 registered & compliant.
Nemean Services
Nemean Services is a disaster recovery agency specializing in military grade security services. With extensive experience in both military and financial sectors, Nemean combines military protocol for asset safeguarding with financial services best practices for audit and confirmation.
Nemean store backups of CoinHQ key shards in a secure location. The backups are transported on a FIPS 140-2 level 3 encrypted device to an offsite, FCA-registered, Grade-10 vault.
Nemean is a separate third party that also holds 1 of 3 key shards for signing Vault withdrawals.