Copper.co has raised a total of $84.3 million through funding rounds, with the latest being a Series B investment that helped the company raise $50 million.
United Kingdom-based digital asset and trading platform provider Copper.co is stepping into the United States market after appointing Glenn Barber as head of sales and development. Barber’s appointment to lead the new U.S. office comes as “the next step in the company’s expansion” strategy.
Headquartered in London, Copper.co has managed to raise $84.3 million through funding rounds, with the latest being a Series B investment that helped the company raise $50 million. As reported recently by Cointelegraph, the previous funding also saw the involvement of Alan Howard, a billionaire hedge fund manager who led a $25-million extension in the mix, bringing up the funds to $75 million in total.
Citing Howard’s investment, Copper stated that the “additional funding signals the growing interest and endorsement from the traditional finance sector in crypto assets.”
Glenn Barber, former chief institutional officer of Voyager Digital, will be joining hands with business development directors Doug Bilyk and Betty Sharples to “make Copper the number one choice for US institutions” toward crypto trading, safeguarding digital assets securely, and “to make the most of trading opportunities via ClearLoop.”
Related: FTX crypto exchange integrates institutional trading tool ClearLoop
While small investors have shown concerns over the subpar performance in crypto prices, large investors seem to have doubled down on their bets on global crypto adoption.
Copper reportedly announced to direct its recent fundings to onboard traditional financial institutions into crypto space. The company’s ClearLoop service recently got integrated with FTX crypto exchange to help Copper’s asset managers access crypto offerings, including options, futures, markets and tokenized stocks.
Howard also made headlines for a recent $12-million investment on Kikitrade, a crypto investment platform out of China. As reported by Cointelegraph, the Chinese startup intends to use the funding to spread its roots across Australia, Hong Kong, Taiwan and Southeast Asia.