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Cryptocurrency custody company Copper seeks to sell the company at a valuation of about $500 million.

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ME News, May 21 (UTC+8) — sources revealed that cryptocurrency custody firm Copper is seeking to sell the company for $500 million. The 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 complete delivery-versus-payment settlement within custody without putting assets on-chain, thereby eliminating settlement risk. Copper closed its enterprise custody business in 2023 and focused on serving ClearLoop for numerous institutional clients. Earlier this year, Copper had considered an IPO, but as Bitcoin’s trading price fell below $80,000 and AI pulled in most capital, the crypto IPO market has been stalled all year. (Source: ChainCatcher)
BTC-2.88%
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