From a custodian to a settlement provider, a classic case of track upgrade

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BlockBeatNews
Crypto custody company Copper is seeking to sell at a valuation of $500 million.
BlockBeats reports that the crypto custodian Copper is seeking to sell, with an estimated valuation of around $500 million, assisted by Cantor Fitzgerald. Its core asset is the ClearLoop settlement system, which can achieve DvP delivery and payment within a custodial environment, reducing settlement risk. Copper shut down corporate custody in 2023 and shifted focus to ClearLoop, currently serving over 1,000 active trading counterparties, with a nominal monthly trading volume exceeding $50 billion.
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