Wednesday, December 1, 2021

Crypto Custodian Copper Eyes $2.5B Valuation in $500M Funding Round Talks: Report

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Copper, a provider of crypto services for institutions, is in talks over a $500 million funding round that would give the firm a $2.5 billion valuation.

  • The round would likely come together before the end of the year, Business Insider reported Thursday citing people familiar with the matter.
  • The news emerges just five months after London-based Copper raised $50 million in a Series B funding round led by Dawn Capital and Target Global.
  • Copper declined to comment when contacted by CoinDesk.
  • The centerpiece of Copper’s infrastructure is its ClearLoop tool, intended to allow institutional investors to hold on to assets until just before a trade is executed so they can retain their trading capital while trades are initiated.
  • Former U.K. Chancellor Philip Hammond recently joined Copper in an advisory capacity.

Read more: 21Shares Taps Copper for Custody of Crypto ETPs

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