London-based digital asset infrastructure provider Copper has raised $50 million in a Series B round co-led by Dawn Capital and Target Global. Existing investors LocalGlobe and MMC Ventures also participated, as well as a number of undisclosed fintech executives and entrepreneurs. Copper is reporting that the funding will be used to expand their global presence, particularly in the US and Asian markets, recruit key staff members in strategy, operations, and business development, and further enhance the product offering.
“With the proliferation of institutional investment in digital assets over the last few years, we had been tracking Copper since its entry to the market just three years ago. It is rare to find a team that so expertly understands not only traditional asset management but that of digital assets and how to marry the two worlds to provide and institutional-grade infrastructure that truly meets investors’ requirements,” says Dawn Captial General Partner Josh Bell.
Founded in 2018 by Dmitry Tokarev, Copper provides institutional investors with a gateway to the cyptoasset space and offers custody, prime brokerage, and settlement services of 150 various digital assets across more than 25 exchanges. Additionally, the firm also offers access to margin lending trading facilities and the DeFi space.
“It is no secret that that interest in owning digital assets has grown exponentially, evident from the influx of institutional investors in Bitcoin, as well as other layer one protocols like Ethereum and Ripple,” comments Tokarev. “As Copper enters its next phase of growth, we will continue to react to the market and provide the services that investors need; to elevate the standards of digital asset security, trading and clearing across the board.”