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Carolina Panthers sign defensive back Corn Elder off New York Giants practice squad, per report

The Carolina Panthers have signed defensive back Corn Elder off the New York Giants practice squad, according to a report from Joe Person at The Athletic. The move is expected to be confirmed and announced by the team sometime today.

Corn Elder move will be official Tues. for Panthers, who signed him off Giants’ practice squad.
Depth move and does not indicate bad injury news for one of the other CBs, per source.
No word on corresponding move.— Joe Person (@josephperson) November 12, 2019

I’m having a hard time understanding the reason behind this move.