Cryptocurrency custody company Copper seeks to sell the company at an estimated valuation of approximately $500 million.

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ME News, May 21 (UTC+8), sources revealed that crypto custody company Copper is seeking to sell itself for $500 million. Wall Street investment bank Cantor Fitzgerald has been appointed to assist in the sale. Copper's core asset is the ClearLoop settlement system, which allows network participants to complete delivery versus payment (DVP) within custody without moving assets on-chain, thereby eliminating settlement risk. Copper closed its enterprise custody business in 2023 to focus on ClearLoop, which serves a large number of institutional clients. Copper earlier this year had considered an IPO, but with Bitcoin trading below $80,000 and AI sucking up most of the capital, the crypto IPO market has been stalled this year. (Source: ChainCatcher)
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