In 2023, companies are dropping managed services, going all in on Clearloop, and now even Clearloop is about to be sold.

CryptoWorld News reports that UK crypto custody company Copper is seeking to sell at an estimated valuation of approximately $500 million, with Cantor Fitzgerald hired to assist in the sale process. Copper's core asset is its custody internal settlement system Clearloop, which allows institutions to complete DVP (Delivery Versus Payment) settlements within custody without transferring assets on the chain, thereby reducing settlement risk. Copper shut down its enterprise custody business in 2023 and shifted focus to Clearloop. Previously, Copper also considered an IPO, but against the backdrop of Bitcoin prices falling below $80k and the AI industry attracting significant capital, the overall crypto IPO market has been relatively sluggish.