UK-based digital asset custody and trading firm, Copper, has decided to focus on its core services and strategic offerings while abandoning its enterprise business, leading to a redundancy process. Copper attributes this decision to the challenging conditions in the digital assets space, as well as the uncertain regulatory environment in the United States. Despite the job cuts, Copper remains committed to being a leading supplier of digital asset custody and prime services for institutional investors.
Copper’s Confidence in Future Growth
Despite the challenges, Copper expressed confidence in its future, citing significant increases in trading volumes and clients onboarding since the end of 2022. The firm’s focus on developing its core services and strategic offerings is expected to position it as a leader in the digital asset space.
Dmitry Tokarev, CEO of Copper, stated that the company is regretful that the market environment necessitated a redundancy process. However, he emphasized that Copper is committed to transforming the existing financial infrastructure and growing in areas where it can achieve maximum success
Philip Hammond Chairs Copper
The former Chancellor of the Exchequer, Philip Hammond, chairs Copper. This leadership role positions Copper as a reputable and reliable player in the digital asset space, and its recent strategic re-alignment is a clear indication of the company’s focus on sustained growth and long-term success.