{"id":5914,"date":"2022-07-25T13:48:54","date_gmt":"2022-07-25T13:48:54","guid":{"rendered":"http:\/\/cryptoheretostay.com\/?p=5914"},"modified":"2022-07-25T13:48:55","modified_gmt":"2022-07-25T13:48:55","slug":"uk-banking-giant-barclays-acquires-stake-in-2b-crypto-unicorn-copper","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=5914","title":{"rendered":"UK banking giant Barclays acquires stake in $2B crypto unicorn Copper"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<\/p>\n<p>Crypto custody firm Copper has raised significant capital from one of the U.K.\u2019s largest banks, Barclays, which is looking to acquire a stake in the firm, Sky News reported.<\/p>\n<p>Copper is a unicorn valued at roughly $2 billion and advised by former British Chancellor of the Exchequer Lord Hammond.<\/p>\n<p>According to the report, the bank will work alongside a new crop of investors who will be joining Copper\u2019s latest funding round. Barclays is expected to invest a \u201cmodest\u201d sum worth a few million dollars as part of the funding round, which will close within the next couple of days.<\/p>\n<h2>Copper scales back on its $3B valuation goal<\/h2>\n<p>Copper operates as institutional custody, prime brokerage, and settlement firm catering to the needs of major market entities looking to deploy their money into various digital assets. The company was launched in 2018 and has since been able to accrue investments from major venture capital firms, including \u00a0LocalGlobe, Dawn Capital, and MMC Ventures.<\/p>\n<p>Earlier reports suggest that Copper was looking to target a valuation of $3B following its latest fundraiser. However, the company has had to scale back its financial goals due to the ongoing bear market plaguing markets across the board.<\/p>\n<p>It is pertinent to note that the company has not yet received a regulatory green light from the UK\u2019s Financial Conduct Authority (FCA). The government body currently requires all crypto service providers to acquire a temporary registration to continue their day-to-day operations.<\/p>\n<h2><strong>Barclays\u2019 contentious relationship with crypto<\/strong><\/h2>\n<p>Barclays has previously spoken out against the crypto industry on a number of occasions, with the lender even blocking clients from transacting with high-profile cryptocurrency exchanges, including Binance and Coinbase.<\/p>\n<p>Additionally, Barclays partnered with Circle in 2016 to release a payment application that allowed users\u00a0to convert Bitcoin into U.K. Pounds (and vice-versa).\u00a0 In 2018, the bank released a new venture arm with the aim of researching areas such as distributed ledgers and smart contracts.<\/p>\n<h2>Market dynamics continue to remain shaky<\/h2>\n<p>Despite the above-stated news of Barclay\u2019s making a sizable investment in Copper, the overall sentiment surrounding the crypto market continues to remain quite fragile. For example, the cryptocurrency fear and greed index, a popular metric used to gauge investor attitude towards the market, still lies in the \u2018fear\u2019 zone.<\/p>\n<p>Over the past month or so, a growing list of significant crypto firms, including Three Arrows Capital (3AC), Celsius, Vauld, and Zipmex, are facing insolvency-related issues, thereby severely undermining confidence in the industry.<\/p>\n<p>Posted In: Adoption, Partnerships<\/p>\n<h2>Get an Edge on the Crypto Market \ud83d\udc47<\/h2>\n<p>Become a member of CryptoSlate Edge and access our exclusive Discord community, more exclusive content and analysis.<\/p>\n<p>  <strong>On-chain analysis<\/strong><\/p>\n<p>  <strong>Price snapshots<\/strong><\/p>\n<p>  <strong>More context<\/strong><\/p>\n<p> Join now for $19\/month Explore all benefits<br \/>\n<br \/><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cryptoslate.com\/uk-banking-giant-barclays-acquires-stake-in-2b-crypto-unicorn-copper\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Crypto custody firm Copper has raised significant capital from one of the U.K.\u2019s largest banks, Barclays, which is looking to acquire a stake in the firm, Sky News reported. Copper is a unicorn valued at roughly $2 billion and advised by former British Chancellor of the Exchequer Lord Hammond. According to the report, the bank [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":5915,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[3],"tags":[],"class_list":["post-5914","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/5914","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5914"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/5914\/revisions"}],"predecessor-version":[{"id":5916,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/5914\/revisions\/5916"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/5915"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5914"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5914"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5914"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}