Custodial specialist, Copper, has recently announced the successful completion of their Series A round of funding.
The team at Copper has indicated that the funds raised during this event will be put to use in two key areas.
- Global expansion
- Specifically North America and Asia
- Product development
- Investment options targets towards institutional clients
The completion of their Series A came in to the tune of $8 million. These funds bring the total raised, to date, by Copper up to, roughly, $9.3 million.
In order to raise the $8 million, Copper saw the participation of multiple companies with high hopes in what they look to achieve. Contributors are as follows:
- Target Global
- MMC Ventures
Upon announcing the results of their Series A, Dmitry Tokarev, CEO of Copper, took the time to comment. He stated,
“Copper was always designed to be a global offering. Since 2017, we have seen many crypto custody solutions emerge that don’t fully meet the needs of institutions. Instead, they have built for an institutional framework that doesn’t exist yet, and is unlikely ever to, leaving institutions discouraged…Our Walled Garden and Prime Brokerage infrastructure truly looks after the security and trading needs of institutions, regardless of their investment strategies and goals. We are seeing volumes increase as our clients see the advantage of our prime brokerage solution, which allows them to make transactions across many trading venues securely and efficiently.”
“This venture funding round is a real vote of confidence from investors. Their support will allow us to accelerate our scale up, hiring teams in key regions and introducing new products and services to better meet their needs.”
As the digital securities sector grows, an increasing amount of participants will require secure, trusted, services for storing their assets. As a result, the custodianship of digital assets has been noted as an important area in which development must take place.
While Copper remains one of the more promising outfits looking to tackle the issues surrounding custody, there remain various competitors developing alongside them. For example, the following article takes a brief look at some of the leading offerings in the market today, including Coinbase, TokenSoft, Anchorage, Unbound Tech, and of course – Copper.
Founded in 2018, Copper, maintains operations in London, United Kingdom. Above all, Copper specializes in offering services tailored around the custodianship of digital assets.
CEO, Dmitry Tokarev, currently oversees company operations.
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