UK Banking Giant Backs Copper in New Funding Bright
Main page News, Banking, UK, business, Crypto Market, Institutional Investors

British multinational financial conglomerate Barclays has reportedly joined a pool of new and existing investors to back cryptocurrency custodian Copper, Sky News has learned.

Subscribe to our Telegram channel to get daily short digests about events that shape the crypto world

Although no financial details of the new funding round were disclosed, sources close to the funding discussions said that the UK-based bank will invest a "relatively modest sum in the millions of dollars." The funding is said to be finalized within days.

Founded in 2018, Copper amounts LocalGlobe and Dawn Capital among its investors and former UK's chancellor Lord Philip Hammond as its advisor.

Crypto Custodian Copper Launches NFT Custody Service for Institutional Clients

In January this year, Barclays Private Bank's Chief Market Strategist, Gerald Moser, said that bitcoin (EXANTE: Bitcoin) was "almost uninvestable" asset. He also added that the cryptocurrency's volatility makes it impossible "to forecast an expected return."

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange

Read also:
Please describe the error