Cryptocurrency Custody Company Copper Raises $25 Million from Alan Howard

Cryptocurrency custodian Copper has raised a $25 million Series B expansion round led by Alan Howard, a British billionaire fund manager.

In May, Copper just closed a $50 million Series B round of funding led by Dawn Capital and Target Global.

Cryptocurrency Custody Company Copper Raises  Million from Alan Howard

Alan Howard built the hedge fund Brevan Howard and is serving as CEO until 2019. 2021 sees him invest massively in the crypto sector, having already invested in UK crypto payment app Bottlepay, new Cologne broker Nextmarkets, crypto exchange Bullish Global and cryptocurrency custodian Komainu (a Nomura Securities joint venture that has received regulatory approval in Jersey).

Alan Howard said in a statement.

It is a pleasure to support Copper. its pioneering technology, particularly the security and speed of cryptocurrency transactions, is critical to the delivery of crypto products to traditional world customers.
Copper said in a press release that the new funding will be used to facilitate the adoption of crypto and distributed ledger technology by traditional financial institutions.

Copper CEO Dmitry Tokarev said large banks and custodians expanding into the crypto industry still face significant hurdles, “especially in terms of transaction speed and security.”

The ClearLoop system is Copper’s signature product. It connects cryptocurrency exchanges into a secure transaction loop for instant, offline transaction settlement.

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