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Copper.coLondon-based custodian for digital assets, has raised $8 million in a Series A round with the participation of investors including Target Global, LocalGlobe and MMC Ventures. The funding round is expected to enable the company to develop its regional client-facing operations in geographies including North America and Asia as well as facilitate the expansion of its commercial team.

Copper is also expected to leverage the funding for accelerating the launch of new products, thus providing institutional clients with more investment options. The announcement follows Copper’s recent partnership with UK-regulated institutional manager of digital assets, Nickel Digital Asset Management. The fundraise also follows the company’s previous seed round in 2018 worth $1.3 million.

Dmitry Tokarev, Founder and CEO of Copper said, “Copper was always designed to be a global offering. Since 2017, we have seen many crypto custody solutions emerge that don’t fully meet the needs of institutions. Instead, they have built for an institutional framework that doesn’t exist yet and is unlikely ever to, leaving institutions discouraged. Our Walled Garden and Prime Brokerage infrastructure truly looks after the security and trading needs of institutions, regardless of their investment strategies and goals. We are seeing volumes increase as our clients see the advantage of our prime brokerage solution, which allows them to make transactions across many trading venues securely and efficiently. This venture funding round is a real vote of confidence from investors. Their support will allow us to accelerate our scale-up, hiring teams in key regions and introducing new products and services to better meet their needs.”

Recently, IBS Intelligence reported that announced its integration with OTC liquidity provider, DV Chain bid to allow the former’s institutional clients to gain access to DV Chain and facilitate trades through the Copper platform.

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