The integration allows Copper’s clients to convert off-exchange balances into USDC and use the stablecoin for instant trading and settlement across connected exchanges
With over 30 years of experience in capital markets, banking, and insurance, Tarak Achich brings expertise in leadership, management, and driving growth to his new role
The initiative also aims to enhance security and capital efficiency through the use of a globally systemically important bank (G-SIB) as the collateral custodian
The transaction took place between UBS and Swiss Re in February, where UBS borrowed cash from Swiss Re while delivering collateral through BNY's platform