Copper Sets Sights on Securities to Woo Institutional Investors

<p>The crypto
custody and trading solutions company Copper, led by former British Chancellor
Phillip Hammond, is expanding its services to include securities. This move
aims to attract institutional investors by offering smart contracts and
tokenized assets within traditional financial markets.</p><p>Copper Expands from
Cryptocurrencies to Securities</p><p>According
to the company's recent announcement, blockchain technology will enhance trading
efficiency and performance, applicable to less liquid and highly liquid assets.
This development responds to <a href="https://www.financemagnates.com/institutional-forex/technology/the-growing-interest-in-cryptocurrency-from-institutional-investors/" target="_blank" rel="follow">the growing interest of institutional investors</a>
and technology giants in the digital assets space.</p><p>Initially,
Copper Securities will provide custody and <a href="https://www.financemagnates.com/terms/e/execution/">execution</a> services to clients,
planning to add access to payment applications and securities financing within
the next year. </p><p>Earlier in
2023, <a href="https://www.financemagnates.com/tag/copper/" target="_blank" rel="follow">Copper </a>announced that Lord Philip Hammond, former Chancellor of the
Exchequer, became its new Chairman, having served as Senior Adviser <a href="https://www.financemagnates.com/cryptocurrency/news/people-should-be-cautious-about-crypto-investing-says-lord-hammond/" target="_blank" rel="follow">since
October 2021</a>.</p><p>"I
remain firmly of the view that the post-Brexit UK Financial Services sector
needs to embrace Distributed Ledger Technology as a key part of its strategy to
remain a major global financial center,” Hammond commented.</p><p>This
initiative is not Copper's first attempt to leverage the growing institutional
appetite for <a href="https://www.financemagnates.com/terms/c/cryptocurrencies/">cryptocurrencies</a>. Previously, the firm <a href="https://www.financemagnates.com/cryptocurrency/state-street-to-launch-a-digital-custody-offering-with-copperco/" target="_blank" rel="follow">collaborated with State
Street</a>, but this partnership ended last year due to Copper closing its software
and infrastructure division to focus on developing crypto custody services.</p><p><a href="https://www.financemagnates.com/" target="_blank" rel="follow">Finance
Magnates</a> recently
reported that the cryptocurrency exchange <a href="https://www.financemagnates.com/cryptocurrency/bitgets-clearloop-integration-institutional-traders-get-off-exchange-settlement-solution/" target="_blank" rel="follow">Bitget implemented Copper’s ClearLoop
network</a>. This integration allows clients to securely store their digital assets
in Copper's Multi-Party Computation wallet, facilitating settlements during
their trading activities on Bitget.</p><p>Blockchain’s Impact on Finance</p><p>The rise of blockchain technology has significantly revolutionized the financial services sector. This decentralized, unchangeable ledger technology has diversified and <a href="https://www.financemagnates.com/cryptocurrency/blockchains-impact-on-finance-with-traditional-systems/" target="_blank" rel="follow">impacted traditional financial systems</a>. </p><p>A key development capturing attention and influencing both prices and adoption rates is <a href="https://www.financemagnates.com/cryptocurrency/maybe-this-time-key-signals-that-the-institutions-really-are-coming-to-crypto/" target="_blank" rel="follow">the potential approval of spot Bitcoin ETFs</a> in the United States by the SEC. Additionally, BlackRock is not only progressing towards a spot Bitcoin ETF but has also filed with Nasdaq for a spot Ether ETF. The data concerning BTC Futures Open Interest shows a clear sign of growing mainstream interest in Bitcoin trading. </p><p>Recently, CME Group, a marketplace operator, briefly surpassed Binance to hold the largest futures market share. This shift is notable as CME primarily caters to traditional finance, whereas Binance is fundamentally a crypto-centric platform.</p>

This article was written by Damian Chmiel at www.financemagnates.com.