The Cost Of Expansion

The Cost Of Expansion

Business Lifestyle Technology
February 23, 2020 by Super System
595
Blockchain technology

Copper Raises $8 Million For Expansion

Blockchain technology

The emergence of crypto exchanges that offer custody for cryptos such Copper has changed the landscape of how people relate, own, and use cryptocurrencies. 

Overtime, cryptos have been caught at war in trying to make themselves regulatory complaints, as well as reduce the risk associated with trading and usage. Because of the nature of cryptocurrencies, providing custody for Bitcoin and other cryptocurrencies is not an easy feat. Put simply, whoever has control of the asset, owns the asset. 

When crypto was first launched, users had to keep their own BTC private keys. However, over time, there have been several solutions like crypto banks and storage that offer users a great way to have custody of their cryptocurrencies. 

Copper is one of such exchanges that offer custody for cryptocurrencies. The London-based startup has raised $8 Million to expand its hold on the market. 

“Copper was always designed to be a global offering. This venture funding round is a real vote of confidence from investors. Their support will allow us to accelerate our scale-up, hiring teams in key regions and introducing new products and services to meet their needs better,” said Copper founder and CEO Dmitry Tokarev 

This investment will enable Copper to hire more business development teams for specific markets. The company plans to establish new offices in Asia. However, the recent outbreak of the coronavirus virus has curtailed its plans. 

Progress Of Crypto Custody Providers 

Copper was launched in 2018, and in the past two years, it has provided its clients’ access to crypto trading while maintaining custody of the assets. Coinbase still remains the leading crypto custody provider. However, there are high hopes that the entire industry will evolve in the coming years. 

 


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