Cryptocurrency custody firm Copper is seeking to sell the company at a valuation of approximately $500 million.
According to CoinDesk, cryptocurrency custody firm Copper is seeking to sell the company at a valuation of approximately $500 million and has engaged Wall Street investment bank Cantor Fitzgerald to assist with the transaction. Copper’s core asset is its ClearLoop custody-based settlement system, which enables institutional clients to execute delivery versus payment (DvP) transactions without moving assets on-chain, effectively eliminating settlement risk. The company currently boasts over 1,000 active counterparties and processes over $50 billion in notional trading volume monthly. Copper had previously considered an IPO, but the broader crypto IPO market has entered a wait-and-see phase amid sluggish Bitcoin prices and the capital-attracting effect of the AI sector.
