Copper, a Crypto assets management custodian based in London, has reportedly raised $8 million revenue by the growth of its commercial human resource and introduction of new commodities to the market.
This fund came after a former seed round in 2018 which resulted in copper raising $1.3 million to grow its brokerage and custody. The company’s walled garden covers about 96% of the world’s cryptocurrencies liquidity while overseeing 500 million Euros per month transactions with a steady rise.
Plans for Asia and North America
Copper company plans to utilize the funds to enhance regional operations regarding clients worldwide with plans for Asia and North America. To give their clients a wide range of investment options, the company has more plans underway to roll out new products in the market.
Through institutions, cryptocurrency funds, and private merchants, copper has been able to expand its number of clients. Copper announced that it will issue out ideal brokerage for Nickel Digital Crypto Assets management during its subsequent fund.
Copper Chief Executive Officer, Dmitry Tokarev, says that the company was created to assume global offering.
He also notes that from 2017 he had seen many crypto assets management companies offer that would not meet the various institutional needs. They created a framework that would never be likely to exist, thereby discouraging institutions.
Tokarev says that the infrastructure of Prime brokerage delves into the trading needs of institutions notwithstanding their goals and strategies for investment. Copper has seen a scale-up for its number of customers as they understand the advantages of prime brokerage; among others the ability to trade efficiently.
He says that the funding is a true vote of confidence from its investors and that would propel their growth in other regions while raising the need for newer services and products.
Efficiency is the key to crypto assets management
Dmitry, having led Dolphin wealth management, says he noticed a gap in crypto assets management after seeing the rise in demand for digital assets but no company existed to provide secure and efficient services.
Mike Lobanov, a partner at Target Global, says that the cryptocurrency market lacks proper structures to enable storage and transfer of digital assets. Despite having many startups in the crypto space, Copper has been built for crypto assets management. Copper’s structure gives institutions the informal brokerage services in the world of cryptocurrency.
Leading in the market, Copper provides instant and secure trades mapping out towards all other exchanges and which remains a market breakthrough.