Copper, which is advised by Lord Hammond, the former chancellor, is raising funds from existing and new investors including the giant UK lender, Sky News learns.
Barclays is taking a stake in Copper, one of the most prominent names in the fast-evolving cryptocurrency sector, even as the industry continues to be rocked by a swathe of bankruptcies.
City sources said Barclays was expected to invest a relatively modest sum in the millions of dollars as part of the round.Copper provides custody, prime broking and settlement services to institutional investors deploying money into crypto assets.The company, founded by Dmitry Tokarev in 2018, has drawn investors from big names in the global venture capital sector, such as LocalGlobe, Dawn Capital and MMC Ventures.
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