UK-headquartered crypto asset and trading platform provider Copper.co is reportedly establishing its presence in the US, via a new investment and onboarding of a new executive member.
Specifically, Copper.co has successfully obtained an overall figure of $84.3 million via funding rounds, with the most recent being a Series B investment that secured $50 million for the firm.
The previous funding reportedly witnessed the participation from Alan Howard – a billionaire hedge fund manager who spearheaded a $25-million extension in the mix – who contributed to help the funds hit the $75 million benchmark.
Citing Howard’s investment, Copper reportedly disclosed that the freshly obtained funding is a sign displaying the interest and endorsement from the traditional finance sector for crypto assets are on the rise.
Glenn Barber – previously worked at Voyager Digital as its chief institutional officer – has reportedly been recruited, and will be working alongside with business development directors Doug Bilyk and Betty Sharples, to turn Copper into the most preferred entity for US institutions, when it comes to “crypto trading, safeguarding digital assets securely”, and “to make the most of trading opportunities via ClearLoop.”
While small investors have reportedly shared their worries about how crypto price values are performing below average, major investors appear to be accelerating their efforts in adopting crypto.
Copper has reportedly also revealed that the freshly acquired funding will be channeled towards onboarding traditional financial institutions into the crypto sphere.
The firm’s ClearLoop service has recently finalized its integration with FTX crypto exchange, to assist Copper’s asset managers in tapping into crypto offerings, including options, futures, markets and tokenized stocks.