Copper Seeks to Sell Company at Approximately $500 Million Valuation, Cantor Fitzgerald Assists in the Sale

Odaily reports that according to insiders, cryptocurrency custody company Copper is seeking to sell the company at a valuation of approximately $500 million. Investment bank Cantor Fitzgerald has been appointed to assist with the sale. Copper's core asset is the ClearLoop settlement system, which allows network participants to complete delivery-versus-payment settlements within custody without needing to bring assets on-chain, thereby reducing settlement risk. Copper closed its corporate custody business in 2023 to focus on ClearLoop, which serves institutional clients. Copper had considered an IPO earlier this year, but with Bitcoin trading below $80,000 and AI attracting most of the capital, progress in the crypto IPO market has been limited this year. (CoinDesk)