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Huge Investment From Barclays to Crypto Company

Global Financial service provider Barclays will join the London-based custody service Copper funding round.

According to the media, the bank will invest “a relatively modest amount of millions of dollars.” The crypto company will complete the fundraiser in “a few days.” Earlier, Copper planned to raise $500 million at a valuation of $2.5 billion. According to the publication, amid the crisis in the crypto industry, we are talking about a lesser amount.

Founded in 2018, the company offers institutional investors the services of a prime broker and the settlement and storage of digital assets. In May 2021, Copper raised $50 million in a Series B funding round led by investment firm Target Global and venture fund Dawn Capital.

In June, billionaire Alan Howard joined the round with a $25 million investment in the company. Among Copper’s advisers is the former British Chancellor of the Exchequer, Philip Hammond.

However, regulatory issues in the country forced the company to open an office in Switzerland, Sky News noted. Recall that Barclays participated in a $70 million seed round for crypto services provider Elwood Technologies in May.