Copper
Copper provides institutional digital asset infrastructure, including MPC custody, ClearLoop off-exchange settlement, and prime services, to over 1,000 hedge funds, trading firms, exchanges, and ETP providers globally.
- Company typePrivate
- Founded2018
- HeadquartersLondon, United Kingdom
- Headcount251–500
- GTM typeB2B
- OfferingSoftware
Copper firmographics
Firmographics- Name
- Copper
- Legal name
- Copper Markets (Switzerland) AG
- Website
- https://copper.co
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- Copper provides institutional digital asset infrastructure, including MPC custody, ClearLoop off-exchange settlement, and prime services, to over 1,000 hedge funds, trading firms, exchanges, and ETP providers globally.
- Ownership category
- akta.pro rank
Copper industry classification
Industry- Product category
- Institutional Digital Asset Custody
- NAICS
- Securities and Commodity Contracts Intermediation and Brokerage (5231)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- Digital Asset Custody & Key Management (MPC, HSM, Wallet Infra) (FSAGAMAB)
- akta.pro secondary industries
- Prime Custody Integration & Tri-Party Workflows (FSADAJAL), Custody Technology Platforms (Custody-as-a-Service) (FSADACAB)
Keywords
Where Copper is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices7 records
Markets served
Copper business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Infrastructure, Operations, Marketing or Sales
Revenue model
- Digital Asset Custody Services: Secure digital asset custody infrastructure for institutional clients, providing MPC-based key management and asset protection with insurance coverage.
- ClearLoop Settlement Network: Off-exchange settlement services enabling institutions to trade while assets remain in secure custody, generating fees for settlement facilitation and network connectivity.
- Prime Services: Settlement and risk services for institutional market participants, including collateral management and financing solutions.
- Agency Lending: Safeguarded lending services for digital assets, enabling institutions to generate yield on holdings while maintaining custody security.
- Stablecoin Rewards Program: Institutional clients can earn yield on stablecoin holdings (USDC, USDe, USDtb, PYUSD, USX, USDG, RLUSD) through integrated DeFi strategies while assets remain in Copper's secure custody.
- Staking Services: Institutional-grade staking support across 20+ chains, enabling clients to earn staking rewards while maintaining custody security.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels6 records
Copper product offering
Product offeringCore offering
Copper provides institutional-grade digital asset custody built on a proprietary Multi-Party Computation (MPC) architecture featuring three independently controlled shards with a 2-of-3 quorum for transaction signing. Its flagship ClearLoop platform enables institutions to trade on connected centralized exchanges without moving assets from custody, supported by a network connecting 40+ exchanges and 1,000+ counterparties. The company extends its custody foundation with ClearLoop Loans (institutional financing), Agency Lending, Staking, Stablecoin Rewards, OTC Derivatives collateral management, Treasury Management, and DeFi access through Copper Connect.
Product overview
Copper is a digital asset infrastructure company that operates as a platform-plus-modules architecture, anchored by its MPC-based Digital Asset Custody and ClearLoop off-exchange settlement network. ClearLoop is the flagship product and core differentiator — it enables institutional clients to trade on connected exchanges (Coinbase, BitMart, Deribit, FalconX, Bybit, OKX, and others) while keeping assets secured in Copper's MPC custody under a bankruptcy-remote trust structure, eliminating counterparty risk and enabling same-day settlement. The platform is extended by ClearLoop Loans (institutional leverage powered by FalconX), Agency Lending (safeguarded digital asset lending), Staking (20+ chains including Ethereum via P2P.org, TON via Chorus One, Bitcoin sBTC, and TAO), Stablecoin Rewards (yield on USDC, USDe, USDtb, PYUSD, USX, USDG, RLUSD, EURAU, YLDS held in custody), Treasury Management, OTC Derivatives (tri-party collateral for OTC derivatives via ClearLoop Assigned Collateral), and Copper Connect (institutional DeFi access). Copper Network provides custodian-agnostic settlement connectivity across 1,000+ counterparties. The company serves hedge funds, trading firms, foundations, exchanges, ETP providers, VC funds, miners, and family offices. Founded in 2018 and headquartered in Zug, Switzerland, with operations in London, Abu Dhabi, New York, Singapore, Liechtenstein, and Hong Kong.
Differentiator
Problem solved
Functional benefit
Brands
- ClearLoop: Industry's first off-exchange settlement solution enabling delivery-versus-payment trades while keeping assets in secure MPC custody. Connects multiple exchanges and processes over $70 billion in monthly notional trading volume.
- Copper Network
- ClearLoop Loans
Products and services
- Digital Asset Custody (MPC) Secure digital asset custody built on a proprietary MPC architecture with three independently controlled shards and 2-of-3 quorum for transaction signing, supporting 50+ blockchain networks for custody, 20+ chains for staking, and 10+ chains for DeFi interaction. Designed for institutional clients including hedge funds, trading firms, exchanges, ETP providers, foundations, venture capital funds, miners, and family offices.
- ClearLoop The industry's first off-exchange settlement solution enabling institutional clients to trade on centralized exchanges (Coinbase, BitMart, Deribit, Bybit, OKX, FalconX) without moving assets from Copper's secure MPC custody. Offers t+4 hour settlement, bankruptcy-remote custody under trust structure, and connections to 40+ exchanges with $50-95B+ monthly notional trading volume.
- Agency Lending Safeguarded lending for digital assets enabling institutional clients to lend assets for yield generation while maintaining custody and control within Copper's secure infrastructure.
- Copper Network A custodian-agnostic, scalable, and private digital asset settlement network connecting 1,000+ active counterparties for secure settlement and collateral mobility across the institutional ecosystem.
- ClearLoop Loans powered by FalconX Prime Institutional financing product powered by FalconX Prime enabling eligible clients to borrow up to 4x leverage directly into their ClearLoop account, with proceeds deposited into ClearLoop for deployment across supported exchanges (Bybit, Deribit, OKX) while maintaining assets in secure off-exchange custody.
- Staking Institutional-grade staking services across 20+ blockchain networks including Ethereum (via P2P.org for Pectra-ready staking), TON (via Chorus One), Bitcoin sBTC, TAO (via Yuma), and various proof-of-stake chains, enabling institutions to earn staking rewards through Copper's custody environment.
- Stablecoin Rewards Program A program enabling institutional clients holding stablecoins (USDC, USDe, USDtb, PYUSD, USX, USDG, RLUSD, EURAU, YLDS) in Copper custody to receive yield/rewards without interacting directly with DeFi protocols, integrating yield sources including Solstice's YieldVault, Ethena's native mint/redeem, and Figure's YLDS.
- Treasury Management Comprehensive treasury management solutions for institutional digital asset holders including foundations, venture capital funds, miners, and corporate treasuries, providing secure custody, collateral management, and reporting infrastructure.
- OTC Derivatives Collateral Management Tri-party collateral management solution (ClearLoop Assigned Collateral) for OTC digital asset derivatives, where takers post margin to dealer's ClearLoop account with rehypothecation restricted within the ClearLoop network of 10 connected exchanges, balancing dealer capital efficiency with taker counterparty risk reduction.
- Copper Connect (DeFi Gateway) A gateway enabling institutional clients to interact with DeFi protocols and applications across 10+ blockchain networks, providing secure, compliant access to decentralized finance while maintaining institutional-grade custody and controls.
Quantifiable outcome
- $1.6 billion in delegated balances protected during Bybit security incident
- +5 more outcomes
Companies that use Copper
Customer profileNamed customers12 records
Segments8 records
Ideal customer profiles6 records
Copper technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration26 records
AI capability1 record
Feature6 records
Copper partnerships and signals
Strategic signalPartnerships
22 partnerships are on record, tiered core and minor.
- FalconXcoreLaunch of ClearLoop Loans combining FalconX's institutional lending platform with Copper's off-exchange settlement network. Enables eligible clients to access borrowing facilities directly within Copper custody accounts without disrupting settlement workflows.
- RippleminorRipple USD (RLUSD) added to Copper's stablecoin rewards program, enabling institutional clients to access yield exposure through RLUSD while remaining in Copper's secure custody.
- Neutral TradecoreIntegration of ClearLoop into Neutral Trade's Solana-based vault infrastructure, enabling participants to access centralized exchange liquidity while keeping assets in institutional custody.
- FireblocksminorBoth companies mentioned as leading institutional crypto custody providers in comparison analysis; competitive positioning.
- Solstice LabsminorSolstice joined Copper's stablecoin rewards program enabling institutional clients to access yield on USX (Solana-native synthetic stablecoin) within Copper's secure custody environment.
- BitGocoreBitGo and Copper launched first trading model with off-exchange settlement from qualified custody, featuring Deribit integration.
- DeribitcoreClearLoop expansion to Deribit enabling FalconX DMA clients to trade on Deribit with off-exchange custody, following nearly six years of collaboration.
- EthenacoreFirst custodian to support native mint and redeem capabilities for Ethena's digital assets (USDe and USDtb) directly on platform, enabling clients to access Ethena's assets without external processes or third parties.
- Chorus OneminorPartnership to enable institutional-grade staking on The Open Network (TON), combining Copper's custody platform with Chorus One's staking infrastructure.
- AllUnityminorPartnership to support EURAU euro-backed stablecoin on Copper's platform, expanding stablecoin access across Europe.
- AllUnityminorPartnership to support EURAU, a euro-backed stablecoin, on Copper's platform, enabling institutional clients to store, manage, and transact with EURAU across Europe and beyond.
- GoQuant/GSRminorGoDark institutional dark pool backed by Copper and GSR, enabling confidential large-scale digital asset trading off exchange with advanced execution protections.
- Solstice LabsminorPartnership extending secure custody for Solana-based assets through Solstice's USX stablecoin yield program.
- QuadraminorCoinmatch partnership connecting institutions and liquidity providers in unified trading venue through Copper's infrastructure.
- Midnight FoundationminorPartnership supporting NIGHT token distribution for Midnight Foundation's privacy-focused blockchain protocol.
- CoinbasecoreClearLoop integration enabling instant off-exchange settlement for institutional investors using USDC, with Coinbase stock surging following the partnership announcement.
- CirclecoreExpanded USDC settlement support partnership enabling institutions to leverage USDC more effectively across Copper's infrastructure.
- CirclecoreExpanded USDC settlement support through Copper's infrastructure, enabling institutions to efficiently utilize USDC for trading and collateral management.
- Cantor FitzgeraldcorePartnership with Anchorage Digital and Copper as custodians for Cantor Fitzgerald's $2 billion Bitcoin financing business, providing collateral management and custody services.
- Maple Finance/Hex TrustminorlstBTC launch on Core blockchain enabling institutional Bitcoin yield while retaining custodian security through BitGo, Copper, and Hex Trust.
- Hedera/HBAR FoundationminorPartnership furthering Hedera's institutional accessibility through HBAR token custody and management.
- Core FoundationcorePartnership enabling institutional clients to stake Bitcoin and CORE tokens directly from Copper accounts, leveraging Core's non-custodial BTC Staking functionality within ClearLoop infrastructure.
Scale indicators13 records
Recent moves13 records
Expansion highlights6 records
Copper competitors and assessment
Company assessmentDirect peers
- BitGo: Leading institutional crypto custodian and qualified custodian; directly competes with Copper's MPC custody and ClearLoop settlement offering, and recently displaced Copper as custodian for 21Shares' ETPs on the LSE.
- Fireblocks: MPC-based custody and settlement network for digital assets; directly competes with Copper's MPC architecture and institutional client focus, with overlapping capabilities in off-exchange settlement and DeFi access.
- Anchorage Digital: Federally chartered digital asset bank offering institutional custody, trading and staking; competes with Copper for institutional clients with a regulatory-first positioning and strong US footprint.
- Komainu: Institutional digital asset custody joint venture between Nomura, CoinShares and Ledger; directly competes with Copper for institutional clients and is itself integrated into ClearLoop's third-party custodian support.
- Zodia Custody: Institutional digital asset custody service backed by Standard Chartered; offers comparable institutional-grade custody with similar regulatory positioning, competing directly for bank and asset manager mandates.
- Hex Trust: Asia-focused institutional digital asset custodian with comparable offerings (custody, staking, DeFi access); competes with Copper's APAC presence out of Singapore and Hong Kong for the same institutional client base.
Broad incumbents
- Coinbase Custody: Institutional custody arm of Coinbase; broader cryptocurrency exchange and platform with overlapping institutional custody services, while also integrating with Copper's ClearLoop for off-exchange settlement.
- Fidelity Digital Assets: Institutional digital asset custody and trading arm of Fidelity; broad incumbent offering overlapping custody and execution services with deep institutional relationships that compete for the same hedge fund and family office clients.
- BNY Mellon: Traditional global custodian actively expanding into digital asset custody; broad incumbent with deep institutional banking relationships that competes for the same large asset manager and bank custody mandates as Copper.
Emerging players
- Cactus Custody: Institutional digital asset custody service within Matrixport; emerging player focused on Asian institutional clients with comparable MPC-based custody, competing for the same APAC hedge fund and trading firm segment.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks7 records
Key highlights7 records
Customer concentration
Copper social profiles
Digital presenceCopper compliance and trust
Trust signalCompliance4 records
Copper financial estimates
Financial estimateRevenue estimate
Valuation estimate
Copper leadership team
Management profileNumber of profiles
Profiles21 records
Copper subsidiaries and ownership
Company hierarchySubsidiaries3 records
Copper funding detail
Funding detailFunding overview
Funding rounds7 records
Investors12 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Copper M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Copper
What does Copper do?
Copper provides institutional-grade digital asset custody built on a proprietary Multi-Party Computation (MPC) architecture featuring three independently controlled shards with a 2-of-3 quorum for transaction signing. Its flagship ClearLoop platform enables institutions to trade on connected centralized exchanges without moving assets from custody, supported by a network connecting 40+ exchanges and 1,000+ counterparties. The company extends its custody foundation with ClearLoop Loans (institutional financing), Agency Lending, Staking, Stablecoin Rewards, OTC Derivatives collateral management, Treasury Management, and DeFi access through Copper Connect.
Is Copper a public or private company?
Copper is a private company. It is classified as venture growth investor backed and is currently operating.
When was Copper founded?
Copper was founded in 2018. It employs 251 to 500 people.
Where is Copper based?
Copper is headquartered in London, United Kingdom, in the Europe region.
How does Copper make money?
Six revenue lines are on record. Digital Asset Custody Services are the primary driver. The others are clearLoop Settlement Network, prime Services, agency Lending, stablecoin Rewards Program and staking Services.
Who are Copper's main competitors?
Direct peers on record are BitGo, Fireblocks, Anchorage Digital, Komainu, Zodia Custody and Hex Trust. Broad incumbents are Coinbase Custody, Fidelity Digital Assets and BNY Mellon. Cactus Custody is listed as an emerging player.
Does Copper have an API?
No public API is recorded for Copper.
What industry is Copper in?
Copper's product category is Institutional Digital Asset Custody. Its primary akta.pro industry code is FSAGAMAB, Digital Asset Custody & Key Management (MPC, HSM, Wallet Infra), with a secondary code of FSADAJAL, Prime Custody Integration & Tri-Party Workflows. Its NAICS code is 5231 and its SIC code is 6200.