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copper custody vs atato custody

Copper Custody VS atato Custody: An In-Depth Analysis

Being vigilant about the safety and control you have over your digital assets is crucial to the success of any business. This is the case across any industry or vertical looking to utilize digital assets as a means of competing in a business landscape that is evolving to accommodate blockchain innovation. All of which is made relevant with the upcoming rumors of a Bitcoin ETF and X integrating crypto payments in the near future. 

As a result, your choice of a custody solution can significantly impact the security and functionality of your digital assets and by extension, your business’ prospects. 

In this feature, we’ll explore a detailed comparison between two prominent custody services: atato Custody and Copper Custody. Each of these solutions offers unique features tailored to different needs, making them ideal for distinct segments of the market. Identifying the needs of your business and how it aligns with these two could save you a lot of trouble (and money).

Table of Contents

atato Custody: Empowering Blockchain Startups and SMEs with Compliance Focus

Compliance and Licensing

atato Custody is specifically designed to meet the needs of blockchain startups and small to medium-sized enterprises (SMEs). It stands out for its emphasis on regulatory compliance and licensing, offering a secure environment for digital asset management across Asia & Europe. For businesses operating within strictly regulated environments, partnering with atato guarantees adherence to legal requirements

atato has received the SOC 2 Type2, ISO27001 security certifications, and is licensed in Asia (Hong-Kong) and Europe (Lithuania) which significantly mitigate potential legal risks for businesses dealing with digital assets in an ever-evolving regulatory landscape.

Cost-Effectiveness

atato is inherently affordable. Its custody solution offers tiered, per-wallet pricing, without any Assets Under Custody (AUC) fees. This affordability is particularly advantageous for Web3 SMEs seeking to scale their crypto operations without incurring hefty fees.

Furthermore, atato Custody boasts a range of wallet features within its various packages, providing flexibility tailored to the size and requirements of your operation. Regardless of the chosen package, security remains a top priority for atato Custody. This cost-effectiveness is particularly advantageous for Web3 SMEs aiming to scale their crypto operations without incurring substantial fees.

Security and Agility

Security and agility are central to atato Custody’s offerings. The WalletConnect feature empowers users to access various functionalities by connecting to dApps across all blockchains. In regards to security, atato’s platform employs cutting-edge Multiparty Computation Technology (MPC), which in combination with atato’s robust and resilient security program, provides a level of security that mitigates the risks of hacking. Additionally, atato takes charge of disaster recovery processes and technologies, setting it apart from self-custody frameworks.

Flexibility

atato offers flexibility through its unique “Bring Your Own Chainand “Bring Your Own Token” solution. Users can secure and store any cryptocurrency on different blockchains, including Bitcoin, EVM blockchains, and non-EVM chains. This simplifies cross-chain operations, allowing firms to manage and secure digital assets through a unified and user-friendly interface.

This feature is particularly timely due to growing demand for users to integrate their own chains and tokens into their wallets, regardless of their scale or adoption. Through the ‘Bring Your Own Chain’ feature, Web3 SMEs can effortlessly extend support and secure assets on any blockchain with a single click, a capability that was previously unattainable.

Bring your own chain atato

Unique Features

atato Custody boasts unique features such as Workspace functionality, akin to Slack channels, which allows businesses to organize wallets based on location, specific needs, and rule sets. This feature is especially valuable for distributed operations spanning various regions or departments, streamlining processes and reducing bottlenecks in your business operations. atato’s Rules, Approvers, and Agents streamline internal review processes and enhance transaction efficiency, offering a comprehensive asset management solution.

Copper Custody: Designed for Large Enterprises

Copper Custody is specifically tailored to meet the needs of large enterprises. It leverages Multi-Party Computation (MPC) technology to offer enhanced security, efficiency, and customization. Here’s a detailed examination of its features:

MPC Technology

Copper Custody’s security framework utilises Multi-Party Computation (MPC) technology. In this approach, the client’s vault is managed by three separate shards, each independently created and controlled by distinct parties. This methodology mitigates risks associated with single-point failures, contributing to a robust and secure system.

Signing Quorum

Copper Custody operates on a two-of-three signing quorum, providing a natural redundancy mechanism. It eliminates the need for parties to maintain copies of each other’s shards, contributing to the system’s overall security.

Vault Configuration for Enterprise Flexibility

Enterprises often have unique security and compliance requirements that necessitate custom vault configurations. Copper Custody recognizes that not all businesses operate under the same policies and regulatory landscapes. While Copper Custody is regulated in Switzerland and holds myriad licenses to match atato, it’s essential to acknowledge that regulations can vary significantly across regions and industries. 

Many enterprises have stringent company policies and industry-specific regulatory frameworks that dictate how digital assets should be stored and managed. These policies can be particularly relevant for businesses operating in highly regulated sectors like finance and healthcare. Inconvenience and potential non-compliance issues arise when a custody solution fails to adapt to these specific needs.

Copper Custody addresses this by offering flexible options with cold, warm, and hot vaults. This adaptability empowers enterprises to align their digital asset storage with their unique security, compliance, and operational requirements. Whether it’s the need for enhanced security in cold storage, quicker access in hot storage, or a balance between the two in warm storage, Copper Custody’s custom vault configurations help businesses maintain compliance and operational efficiency even in complex regulatory environments. This flexibility ensures that Copper Custody remains a valuable solution for a wide range of enterprises, no matter their specific demands.

Proxy Wallets/Wallets-as-a-Service

Copper Custody offers Proxy Wallets, a feature designed to streamline transaction tracking across multiple blockchains, simplifying the monitoring of customer transactions. While this is certainly a notable feature, it comes with a downside by way of gas fees associated with transactions conducted via Proxy Wallets.

This is important to note, especially for SMEs and mid-tier VCs who are conscious of their cash flow. With Copper Custody’s Proxy Wallets, there may be gas fees associated with transactions. These fees can accumulate and impact the cash flow of businesses, particularly for those regularly engaged in blockchain transactions. atato’s no transaction fee policy ensures that your transactions are cost-effective, making it an appealing choice for those seeking to optimize their operational costs.

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Experience zero transaction costs and no AUM fees in real time

Efficiency and Optimization

Copper Custody includes features designed to enhance wallet operations’ efficiency. The platform offers centralized management of gas fees, ensuring cost-effective transaction management. Additionally, the “Dust Collector” tool consolidates minor transactions to optimize overall efficiency.

Again, it’s important to note that atato doesn’t charge transaction and withdrawal fees making us a unique value proposition for startups, SMEs and VCs who want to keep costs down.

Notifications and Reporting

Copper Custody offers advanced notification configurations through webhook notifications. Users can set these up in real time for specific events. The platform also simplifies deposit tracking and reporting, enhancing transparency.

Comparatively, atato offers an in-built block explorer feature, allowing treasury managers to check any transaction on any chain without having to exit the app. This feature provides a smoother experience for users, streamlining the process of verifying transactions and enhancing overall convenience.

Multi-Blockchain Support

Copper Custody enables users to create accounts across a wide array of over 40 supported blockchains. This extensive support ensures effective management of various digital assets.

Though, as mentioned earlier, atato also offers multi-chain support through its “Bring Your Own Chain” feature, which can significantly save companies valuable resources when it comes to custody. This feature eliminates the need for businesses to allocate developer time or hire third-party services for implementing support for smaller chains. atato’s “Bring Your Own Chain” solution facilitates a multi-chain environment, allowing users to secure and store any cryptocurrency on different blockchains, including Bitcoin, EVM blockchains, and non-EVM chains. This feature simplifies cross-chain operations, enabling firms to efficiently manage and secure digital assets through a unified and user-friendly interface.

Conclusion

In conclusion, atato Custody caters to blockchain startups and SMEs, focusing on compliance, cost-effectiveness, flexibility, and a suite of features aligned with their requirements. In contrast, Copper Custody is designed for large enterprises, emphasizing security through MPC technology, a two-of-three signing quorum, and flexible vault configurations. As the digital asset continues to grow, more and more businesses of different sizes and subsequent needs, meaning it’s important that there’s competitive custody options that cater to the specific needs of a multitude of business postures. In this regard, both atato and Copper are positioned to play pivotal roles in shaping the future of digital asset management.

Atato custody, an all in one solution for your digital assets security

Add any token, add any chain, MPC security, Dapps integration

Atato custody, an all in one solution for your digital assets security

Add any token, add any chain, MPC security, Dapps integration