TechFlow News, May 21: According to CoinDesk, cryptocurrency custody firm Copper is seeking to sell the company at a valuation of approximately $500 million and has engaged Wall Street investment bank Cantor Fitzgerald to facilitate the transaction. Copper’s core asset is its ClearLoop custody-based settlement system, which enables institutional clients to execute delivery-versus-payment (DvP) settlements without moving assets on-chain, thereby effectively eliminating settlement risk. The company currently boasts over 1,000 active counterparties and processes over $50 billion in notional monthly trading volume. Copper had previously considered an IPO; however, the broader crypto IPO market has entered a wait-and-see phase amid Bitcoin’s weak price performance and the capital-raising dominance of the AI sector.
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