Tyr Capital integrates with Copper
Tyr Capital, a specialist cryptocurrency hedge fund, has integrated with Copper, a London-based digital asset infrastructure provider.
Investors placing funds with Tyr will be guaranteed greater security by Copper’s proprietary technology, which reinforces sophisticated internal processes with further protection against human error, fraud, or theft.
Copper’s walled garden solution creates an ecosystem that makes it impossible for fund administrators to steal funds, while mitigating against wallet keys going missing or being forgotten. Tyr is embracing Copper’s key sharding solution, which is becoming widely recognised as best practice amongst digital asset owners.
Rather than producing a single key that might be lost or forgotten to grant access to a wallet, Copper will produce three key shards, all of which will be needed to verify and authorise transactions in and out of the fund. Copper will hold one key, Tyr Capital another, and another will be held by a trusted third party.
The key shards are underpinned by ultra-secure multi-party computation (MPC) technology, which is the highest level of security in key management encryption.
The ecosystem also provides further checks to fund activity on top of Tyr Capital’s already rock-solid internal processes – making mistakes near-impossible.
Since launching in 2019, the hedge fund has consistently delivered double digit returns. Last year, Tyr Capital delivered returns of over 35 per cent at a Sharpe ratio of 6.5 – cementing its position as one of the best in the industry.
Ed Hindi, CIO of Tyr Capital, says: “Copper was an obvious choice for us. We recognised that for a lot of investors, especially larger institutions, Copper’s technology is becoming a prerequisite for proving your security standards and instilling trust. Not only this, but also as a company they are more innovative and dynamic than many other solutions we’ve seen out there, and they’ve been incredibly flexible in supporting us.”
Boris Bilowitzki, CRO at Copper, says: “We are pleased to support Tyr Capital in bolstering the security it offers to its investors and, in turn, helping to grow participation in this nascent asset class. By integrating Copper’s unparalleled MPC technology, Tyr is eliminating historic security issues typically associated with owning digital assets and offering utmost peace of mind to its investors.”