Copper is seeking to sell the company at a valuation of approximately $500 million, with Cantor Fitzgerald assisting in the sale

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