Crypto custody firm Copper is seeking to sell the company at an estimated valuation of 500 million dollars.
ChainCatcher News, according to CoinDesk, cryptocurrency custodian Copper is seeking to sell the company at a valuation of about $500 million and has engaged Wall Street investment bank Cantor Fitzgerald to assist with the transaction.
The core asset of Copper is the ClearLoop custodial settlement system, which enables institutional clients to perform delivery versus payment (DvP) without putting assets on-chain, effectively eliminating settlement risk. The company currently has over 1,000 active counterparties and a monthly notional trading volume exceeding $50 billion.
Copper had previously considered an IPO, but due to the sluggish Bitcoin price and the capital-attracting effect of the AI sector, the overall crypto IPO market remains in a wait-and-see state.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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