Custody Service Copper Raises $50M

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Copper, a London-based custody service, has just announced on Twitter that it has raised $50 million in a Series B fundraising led by investment company Target Global and venture capital fund Dawn Capital.

According to the company, the funds will be spent to support its international expansion, which includes opening offices in the US and Asia. In addition, Copper also has plans to use the funds to develop new products.

Copper claims to offer its services to over 200 cryptocurrency exchanges, payment companies funds, among other clients.

It is worth mentioning that the AUM (assets under management) of the company have increased 40 times since the third quarter of last year.