The future of finance is digital assets. Blockchain-backed digital assets like Bitcoin, Ethereum, and others, are fast becoming the currency of the future. While institutional investors are tilting towards digital assets, significant investments in digital assets are stalled due to inadequate infrastructures that can satisfy global investors and regulatory standards.
Going by the above, there is a need for an establishment that can cater to digital institutions' infrastructural needs. In this article, we examine the growth, goals and activities of Copper, a world-leading cryptocurrency custody firm.
Founded in 2018 by Dmitry Tokarev, Copper is a cryptocurrency custody and brokerage firm for institutional investors. Copper aims to transform how institutional investors engage with digital assets, providing market-leading secure infrastructure in addition to custody, trading and prime brokerage solutions.
As a custody provider and portfolio management firm, Copper designs and develops needed infrastructures to enable digital institutions to acquire, store, and trade digital assets in a compliant manner. This will give institutions the utmost certainty that investors' capital is safe.
Describing Copper's innovative infrastructure, a press release by Copper states: "At the core of Copper’s infrastructure is ClearLoop, a framework that connects the universe of exchanges in one secure trading loop — with real-time settlement across multiple networks. Integrated with market-leading crypto exchanges, ClearLoop has transformed how institutional investors can engage in the crypto asset space since it was launched in May 2020."
Furthermore, Copper asset managers are protected by the ClearLoop network, which enables off-exchange trading and settlement at tier-1 digital asset exchanges. According to Talent Ticker, Copper's secure wallet architecture is available as a standalone application, a mobile app, and a browser extension for smart contract signing.
Since its inception, Copper has gone through a series of funding phases, beginning with the seed phase in January 2019, which attracted funding of $1 million. In February 2020, Copper's Series A funding attracted $8 million, followed by the Series B investing round (May - June 2021), which attracted $76 million.
In October 2022, Copper was reported to have raised $196 million in new funding, which is part of an ongoing Series C investing round in the company. $181 million out of the $196 million came from new and existing shareholders, while the rest were reported to be from a convertible loan note.
The Copper Team
Experienced professionals across fields of talent manage the activities of Copper. Copper's profile on Crunchbase shows that the form currently has 12 employee profiles, including Senior Strategic Advisor for the Asia-Pacific region Michelle Lai.
The 12 Copper employees are:
1. Alex Ryvkin, Chief Product Officer
2. Dmitry Tokarev, Chief Executive Officer
3. Greg Hall, Chief Operations Officer
4. Jake Rogers, Chief Information Security Officer
5. Tim 'Hilton' Yzermans, Chief of Staff
6. John Bratowicz, Head of Compliance
7. Alex Maslin, Business Development Director | Custody & Prime Brokerage for Digital Assets
8. Sergey Shanaev, Director of CIS Region
9. Tyler Kenyon, Marketing Director
10. Tim Neill, Chief Risk Officer
11. Michelle Lai, Senior Strategic Advisor for the Asia-Pacific region
12. Douglas Bilyk, Business Development
Copper Partners with BIT Crypto Exchange
On the 26th of January, 2021, Copper announced its partnership and the completion of the integration of its ClearLoop framework with BIT exchange.
According to Copper, the integration will allow institutional clients to keep their assets secure under Copper’s segregated custodian account while trading on BIT and settling trades in their ClearLoop account. This solution would be extremely helpful for institutional traders because it ensures accessibility, efficiency and convenience.
For further information about Copper and its products, visit the official website here.
About BIT Crypto Exchange
BIT is a full-featured cryptocurrency exchange that is designed for use by professionals. It provides services such as the execution of trading strategies, price discovery, and liquidity provision. BIT is always working to encourage the creation of innovative new financial products, improve the trading tools available to users, and offer a wide variety of tokens. Trade with confidence, knowing that the platform is built with institutional-grade security and risk management measures in place. Sign up for BIT and switch on your future.
Sign up on BIT, and switch on your future.