UK crypto custody company Copper is seeking to sell at an estimated valuation of approximately $500 million, with Cantor Fitzgerald hired to assist in advancing the sale. Reports say that Copper's core asset is its custody settlement system ClearLoop, which allows institutions to complete custody DvP (delivery versus payment) settlements without transferring assets on-chain, reducing settlement risk. Copper shut down its enterprise custody business in 2023 and shifted focus to ClearLoop. Copper had also considered an IPO earlier, but amid Bitcoin prices falling below $80k and the AI industry attracting significant capital, the overall crypto IPO market has been relatively sluggish. (CoinDesk)

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OvernightPositionPhobia
· 1h ago
The technical details of ClearLoop are worth exploring. How does the off-chain DvP ensure finality?
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GoldfishUnderTheIce
· 4h ago
From IPO to sale, Copper's financiers probably breathed a sigh of relief, finally able to cash out.
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L2Sidequester
· 6h ago
A 500 million valuation might have been somewhat low in 2021, but given the current environment, closing a deal is a victory.
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Half-SectionSucculent
· 9h ago
In the custody and settlement sector, Copper has made progress, and the buyers are likely to be banks or major payment giants.
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ProofOfNap
· 9h ago
Cutting enterprise custody in 2023 is the right move; focusing on ClearLoop is the only way to differentiate, otherwise there's no way to compete with BitGo and others.
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DustyAirdropper
· 9h ago
If Bitcoin is below 80k, no one dares to go public; this market sentiment is just too fragile.
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GateUser-af0ea0c9
· 9h ago
500M valuation, ClearLoop really has something; DvP settlement that doesn't need to go on the chain, this is exactly the kind of solution that institutions love—safe and efficient.
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SentimentIndicatorCollecting
· 9h ago
This move by Copper is very pragmatic; with a poor IPO environment, selling out is better than bleeding through stubborn persistence.
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TheSolitaryRockBehindThe
· 9h ago
AI attracts money, crypto loses blood, the script for 2024 is still playing out
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BetweenBidAndAsk
· 9h ago
Cantor Fitzgerald steps in; it seems traditional finance has more interest in crypto infrastructure than expected.
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