Is Copper's move here, the end goal of institutional custody to sell out to TradFi?

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MeNews
Cryptocurrency custody company Copper seeks to sell the company at an estimated valuation of approximately $500 million
ME News Report, May 21 (UTC+8), sources familiar with the matter reveal that cryptocurrency custody firm Copper is seeking to sell the company for $500 million. Wall Street investment bank Cantor Fitzgerald has been appointed to assist with the sale. Copper's core asset is the ClearLoop settlement system, which allows network participants to settle token exchanges internally without moving assets on-chain, thereby eliminating settlement risk. Copper shut down its enterprise custody business in 2023, focusing on serving numerous institutional clients with ClearLoop. Copper had considered a sale earlier this year.
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