Crypto custody firm Copper is looking to sale the company for $500 million
CoinDesk
Cryptocurrency custody provider Copper has reportedly hired Cantor Fitzgerald to explore a potential $500 million sale of the business.Summary
Copper, a cryptocurrency custody firm, is seeking a buyer for approximately $500 million and has appointed investment bank Cantor Fitzgerald to manage the sale. The company's primary asset is its ClearLoop settlement system, which facilitates delivery versus payment without requiring onchain asset movement, effectively mitigating settlement risk. Despite previously considering an IPO, Copper has shifted strategy amid a cooling crypto IPO market and competition for capital from the artificial intelligence sector. This move aligns with broader consolidation trends in the digital asset industry, as established firms continue to acquire infrastructure providers to enhance their institutional capabilities.
(Source：CoinDesk)