UK financial institution Barclays Bank is among a consortium of investors taking part in an investment round into crypto platform Copper, Sky News has reported.
According to City sources, the multi-million-dollar funding round is expected to close in the following days.
Copper, which counts former UK Chancellor of the Exchequer Phillip Hammond among its advisory board, acts as a gateway to digital asset investing, has offices in London, New York, Singapore and Switzerland.
According to the platform, over US$50bln flows through Copper monthly from a client base comprising family offices, private banks, crypto funds and high-value traders.
Sky News reported that Copper’s US$3bln valuation has been scaled back to US$2bln in 2022 due to an ongoing bear market that has knocked over US$2tln from the cryptocurrency markets.
Copper has previously raised US$85mln in funding from MMC Ventures, L1 Digital, Alan Howard and other venture capital firms.