British crypto custody service Copper has just launched a solution for storing non-fungible tokens (NFTs), The Block has reported.
According to the company, the product makes it possible to securely trade collectible assets in the same way as with any cryptocurrency, thanks to multilateral computing technology.
At the initial stage, the service supports tokens based on ERC-721 and ERC-1155 standards.
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According to Alex Ryvkin, Copper's chief product officer, the company has made the decision to launch this service following demand from its institutional clients.
He has said:
"As this market has rapidly grown, we have seen that an increasing number of our institutional clients are diversifying into NFTs as an asset class and want to house these holdings within their Copper vault."
The company has also announced it has partnered with State Street, one of the oldest banks in the US. The institution uses Copper's infrastructure to provide clients with access to digital assets through its State Street Digital division.