UK’s multinational bank Barclays devises plan to invest into cryptocurrency custodian firm Copper to cater the rising demand in the nation

Copper’s institutional rise amidst the crypto market downrun.

The crypto market down run has certainly caused a lot of crypto giants to turn insolvent and file for bankruptcy. Copper, which essentially is an asset infrastructure developing company, primarily partners with pioneering institutions to cater to the particular asset.

The company has made inroads into the industry since its inception. According to the reports, the company had earlier planned to raise around $3 million in its recent round of funding, but then aborted the plan due to the disastrous crypto market crash.

The company also went to get regulatory exemptions from Switzerland before it could get from UK. The company also went on to launch its collaboration with StateStreet to make new digital asset service.

Increased demand for crypto in UK

Since the inception of cryptocurrency in the world, UK and US have been the dominant players in capturing the market in crypto domain. Surprisingly, UK dominated US in some of the aspects of the industry.

As a result of increased demand in the country, the financial players of the economy are on the look out to diverge their focus into the crypto industry to cater to the increasing demand among the millions of customers.

As UK’s demand for cryptocurrency is increasing day by day, Barclay, a multinational bank in the country devises a plan to invest into crypto custodian firm Copper.

Barclay’s integration with Copper.

According to reports, the multinational bank, Barclays has shown keen interest in investing in the cryptocurrency custodian firm to cater the ever-rising demand for cryptocurrency in the nation. Barclay’s is tipped to make a big investment in millions of dollars as a part of the round. The fund raising for Copper is tipped to be coming to an end soon.

Copper’s investments with global institutions.

Copper has already been successful in attracting big global investors in its round of fund raising. According to the study, the company has already drawn investment from a lot of important global venture capital firms which include MMC Ventures, and many more.

Writer’s Analysis:

According to me, the increasing demand in UK is good for the entire crypto industry considering the bear market that is prevalent in the industry. It is good for the custodian firm also to gain the trust of the investors to raise funds in its rounds which proves that companies and institutions do have a lot of trust in cryptocurrencies.