Crypto service provider Matrixport is teaming up with crypto custodian Copper to improve its clients' access to prime brokerage offerings. The partnership will involve Matrixport integrating with Copper's ClearLoop to provide institutional clients with off-exchange settlement. Copper's ClearLoop network allows investors to hold onto assets until just before a trade is executed by connecting multiple exchanges in one secure trading loop. This ensures clients are protected from exchange counterparty risks and promotes capital efficiency, according to the press release. The collaboration demonstrates the companies' shared commitment to building a more secure, transparent, and accessible financial market infrastructure in the digital asset industry.

Digital asset custody provider Copper has shelved its enterprise business, made staffing cuts, and ended its licensing agreement with global custody bank State Street in a move to streamline the company and focus on core product ClearLoop.

Cryptocurrency custody provider Copper said up to 15% of its staff face redundancy as the firm streamlines its business amid tough market conditions affecting the crypto industry.

Global custody bank State Street said it has ended its working relationship with Copper, the cryptocurrency custody firm which announced earlier Thursday that it was closing its enterprise infrastructure division.

Instagram NFT Initiative’s Swift Death Mints Mourners, Mehs; Crypto Exchange Orca to Block US Traders From Website; Crypto Custody Firm Copper Shelves Enterprise Business; Web3 Company Orange Comet Taps 13-Year-Old Artist Doodle Boy for NFT Drop; Yuga Labs Summons Fans to Mint HV-MTL NFTs, Prices Soar on OpenSea

London-based cryptocurrency custody firm Copper has given up its enterprise business, a software and infrastructure development side of the firm.

Cryptocurrency custody provider Copper was alerted to a security issue over the Christmas period involving the company’s GitHub repository, which contains a blueprint for how the firm secures customers’ assets.

Philip Hammond, the UK’s former chancellor of the exchequer, was appointed chairman of crypto custodian Copper Technologies Ltd.

Crypto exchange BitMart is set to offer its institutional clients off-exchange settlement by partnering with digital assets custody firm Copper, the company said in a statement on Thursday.

The founders of crypto investment platform Bitpanda have quietly set up an investment vehicle. Austrian company registers show that founding trio Eric Demuth, Paul Klanschek and Christian Trummer applied to set up a firm named Diamond Hand Ventures in May of last year. Filings from Companies House, the UK business register, also show that it participated in crypto custodian Copper's $50 million Series B round in the same month.