Copper.co Integration

Copper.co Integration

Copper.co is institutional custody and prime brokerage platform for digital assets. Main product: ClearLoop — off-exchange settlement network allowing institutional traders to hold assets under Copper custody, trade on exchanges (Binance, Deribit, Kraken and others) without withdrawing funds from exchange, and settle trades without moving assets through blockchain. For projects working with institutional clients or building trading infrastructure, Copper.co integration solves critical counterparty risk.

What Integration Gives

Without ClearLoop: trader transfers $10M to Binance → holds on exchange → trades → withdraws. Risk: exchange hacked or bankrupt (FTX). With ClearLoop: assets in Copper custody → credit line on exchange → trades → settlement via ClearLoop without asset movement. Counterparty risk goes away.

For products: custody API gives programmatic access to institutional-grade wallets with MPC (Copper uses own MPC), policy engine for transaction approval, and audit trail for compliance.

Copper API: Key Endpoints

Copper provides REST API + WebSocket for real-time events. Authentication: API Key + HMAC-SHA256 signature.

import crypto from 'crypto';
import axios from 'axios';

class CopperClient {
  private baseUrl = 'https://api.copper.co';
  
  private signRequest(
    method: string,
    path: string,
    timestamp: number,
    body: string,
  ): string {
    const message = `${timestamp}${method.toUpperCase()}${path}${body}`;
    return crypto
      .createHmac('sha256', process.env.COPPER_API_SECRET!)
      .update(message)
      .digest('hex');
  }
  
  async request<T>(method: string, path: string, data?: unknown): Promise<T> {
    const timestamp = Date.now();
    const body = data ? JSON.stringify(data) : '';
    const signature = this.signRequest(method, path, timestamp, body);
    
    const response = await axios({
      method,
      url: `${this.baseUrl}${path}`,
      data: data || undefined,
      headers: {
        'Authorization': `ApiKey ${process.env.COPPER_API_KEY}`,
        'X-Signature': signature,
        'X-Timestamp': timestamp.toString(),
        'Content-Type': 'application/json',
      },
    });
    return response.data;
  }
}

Portfolio and Wallet Management

// Get all organization portfolios
const portfolios = await copper.request('GET', '/platform/portfolios');

// List wallets in portfolio
const wallets = await copper.request(
  'GET',
  `/platform/portfolios/${portfolioId}/wallets`,
);

// Create new wallet (address generated by Copper MPC)
const wallet = await copper.request('POST', '/platform/wallets', {
  portfolioId,
  name: 'Trading Hot Wallet',
  mainCurrency: 'ETH',
  type: 'hot', // hot | cold
});

Transactions and Approval Workflow

Copper supports multi-level approval policy: transaction created → passes approver queue → executed.

// Create withdrawal transaction
const withdrawal = await copper.request('POST', '/platform/transactions', {
  type: 'withdrawal',
  portfolioId,
  currency: 'USDC',
  amount: '50000.00',
  toAddress: destinationAddress,
  network: 'ethereum',
  memo: 'Settlement payout #1234',
});
// Status: pending_approval

// Webhook on transaction status change
// POST /webhooks → configured in Copper Dashboard
// Payload includes: transactionId, status, txHash (after broadcast)

Policy Engine: in Copper Dashboard configure: amount limits, address whitelists, required approvers (M-of-N). Any transaction above threshold requires manual approval. For automation: Copper supports programmatic approval via API (for systems with internal approval workflow).

ClearLoop: Off-exchange Settlement

// Transfer funds to ClearLoop loop (to exchange, without blockchain movement)
const loop = await copper.request('POST', '/clearloop/transfers', {
  fromPortfolioId: custodyPortfolioId,
  toExchangeAccountId: 'binance-account-123', // pre-configured
  currency: 'BTC',
  amount: '1.5',
});

// Check positions on exchanges via ClearLoop
const positions = await copper.request(
  'GET',
  `/clearloop/positions/${exchangeAccountId}`,
);

ClearLoop settlement happens several times daily (intraday netting). No need to move blockchain assets on each trade — only overall positions balanced.

WebSocket: Real-time Updates

import WebSocket from 'ws';

const ws = new WebSocket('wss://ws.copper.co/platform');

ws.on('open', () => {
  // Authentication
  ws.send(JSON.stringify({
    type: 'auth',
    apiKey: process.env.COPPER_API_KEY,
    signature: generateWsSignature(),
    timestamp: Date.now(),
  }));
  
  // Subscribe to transaction events
  ws.send(JSON.stringify({
    type: 'subscribe',
    channels: ['transactions', 'portfolio_balances'],
    portfolioIds: [portfolioId],
  }));
});

ws.on('message', (data) => {
  const event = JSON.parse(data.toString());
  
  if (event.type === 'transaction_update') {
    // transactionId, status, txHash, confirmations
    handleTransactionUpdate(event.payload);
  }
  
  if (event.type === 'balance_update') {
    // currency, available, pending
    handleBalanceUpdate(event.payload);
  }
});

Compliance and Reporting Integration

Copper provides audit-ready data: all transactions with timestamp, approver log, blockchain confirmation. For compliance integration:

// Export transaction history for audit
const auditReport = await copper.request('GET', '/platform/transactions', {
  params: {
    portfolioId,
    from: '2024-01-01T00:00:00Z',
    to: '2024-12-31T23:59:59Z',
    status: 'completed',
    limit: 1000,
  },
});

// Each record includes: initiator, approvers, timestamps, txHash

Integration Timeline

Basic integration (deposit/withdrawal API, webhook handling): 2–3 weeks. Full integration with ClearLoop, custom approval workflow, and compliance reporting: 6–10 weeks.

API access provided after KYB procedure — budget 2–4 weeks for onboarding.