Copper seeks $500 million sale

Crypto custody firm Copper is reportedly exploring a sale valued at approximately $500 million, with Cantor Fitzgerald engaged to facilitate the process. The company's primary asset is its ClearLoop in-custody settlement system, designed for institutional clients to conduct delivery versus payment without on-chain settlement, thus mitigating risk. Copper shifted its focus to ClearLoop after closing its enterprise custody business in 2023. This move occurs amidst a period of active acquisition and consolidation within the digital asset space, as various financial and crypto-native firms seek to enhance their capabilities.