Copper Markets (US)

Name

Copper Markets (US)

Legal name

Copper Markets (US) Inc.

Website

https://copper.co

Company type

Private

Founded year

2018

Operating status

Operating

Ownership category

akta.pro rank

Product category

Institutional Digital Asset Infrastructure

NAICS

Securities and Commodity Contracts Intermediation and Brokerage (5231), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Commodity Contracts Intermediation (52316)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Commodity Contracts Brokers & Dealers (6221)

akta.pro primary industry

Digital Asset Custody & Key Management (MPC, HSM, Wallet Infra) (FSAGAMAB)

akta.pro secondary industries

Multi-Dealer Platforms (Multi-Asset) (FSAFAEAF), Market Making & Liquidity Provision (FSADAJAC)

Keywords

• Digital asset custody
• Institutional crypto trading
• Off-exchange settlement
• Collateral management
• Prime brokerage

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Custody Services: Institutional digital asset custody fees, likely tiered based on assets under custody and vault configurations
2. Trading & Settlement Fees: Transaction fees on trades executed through the platform, supporting $60mn monthly trades and $3bn monthly off-exchange settlements through ClearLoop
3. Collateral Management: Fees for collateral mobility services enabling institutions to move assets across trading, financing, and settlement workflows
4. Financing/Lending: Lending services with margin call capabilities, early termination features, and various loan types including agency and bilateral lending structures
5. API/Developer Services: API access fees for programmatic access to wallets, orders, transfers, ClearLoop, staking, and lending endpoints

Go-to-market motion2 records

Distribution channels2 records

Marketing channels4 records

Core offering

Copper Markets (US), Inc. provides institutional digital asset infrastructure combining secure custody, trading, settlement, and collateral management in a single unified platform. Built on Multi-Party Computation (MPC) technology, the platform enables institutions to hold, move, and manage digital assets across trading venues, with the ClearLoop network facilitating off-exchange settlement and the Copper Network providing counterparty connectivity across the digital asset ecosystem.

Product overview

Copper Markets (US) offers a unified digital asset infrastructure platform for institutions, combining custody, trading, settlement, and collateral management services. The core platform centers on Qualified Custody and Collateral Management, supplemented by Vaults for secure storage, Staking for validator participation, Financing for lending operations, and Trading & Settlement services. The platform provides two key network ecosystems: ClearLoop Network for off-exchange settlement with significant monthly volume ($105bn protected collateral, $3bn off-exchange settlements), and Copper Network for counterparty connectivity. The platform exposes its functionality through a comprehensive REST API with OpenAPI specification, Webhooks for event-driven integrations, and specialized APIs for Lending, Reports, and Staking operations.

Differentiator

Problem solved

Functional benefit

Brands

• ClearLoop: A network for collateral mobility enabling off-exchange settlements and protected collateral management for institutional trading.
• Copper Network

Products and services

• Qualified Custody Secure digital asset custody infrastructure built on MPC technology, providing the foundation to hold, move and manage digital assets across trading, settlement, and collateral workflows for institutions.
• Collateral Management Infrastructure enabling institutions to move digital assets across trading, financing, and settlement workflows more efficiently through one connected infrastructure layer.
• Vaults Secure storage solution for digital assets within Copper's custody infrastructure, allowing institutions to segregate and manage holdings.
• Staking Access to a network of leading staking partners allowing institutions to stake digital assets directly from secure custody infrastructure. Supports Aptos, Avalanche, Binance Coin, Bitcoin, Bittensor, Cardano, Cosmos, Ethereum, Hedera Hashgraph, Injective, Internet Computer, NEAR Protocol, Polkadot, Sei, Solana, Sui, and The Open Network.
• Financing Digital asset financing services enabling collateralized lending and borrowing workflows with margin call capabilities, early termination features, and agency and bilateral lending structures.
• Trading & Settlement Trading execution and settlement services for digital asset markets supporting buy, sell, deposit, withdraw, and cross-chain order operations.
• ClearLoop Network Network connecting trading venues, liquidity providers, and counterparties for off-exchange collateral management and settlement, supporting $105bn monthly protected collateral volume and $3bn monthly off-exchange settlements.
• Copper Network Gateway to the digital asset ecosystem providing infrastructure, services, and counterparty connectivity for institutions to move assets across markets with greater control.
• Platform API RESTful API with OpenAPI specification enabling programmatic access to wallets, orders, portfolios, lending, ClearLoop, staking, and reporting features. Available endpoints include blockchain validation, ClearLoop (balances, exchanges, portfolios, settlements, actions), Address Book, Currencies, Deposit Targets, Orders, Exchange actions, Files, Organizations, Network/Counterparties, Lending operations, Portfolios, Reports, Staking, and Wallets. Includes production, staging, and testnet environments.
• Lending API Full lending lifecycle management API for institutions covering loan creation, collateral management, margin calls, term extensions, interest payments, repayments, rebalancing, rerating, top-ups, and early termination.
• Fees Vaults DeFi integration service for managing fee payments in decentralized finance operations, integrated with Copper's custody and trading infrastructure.

Quantifiable outcome

• 60 million monthly trades executed through the platform
• +2 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Fidelity Digital Assets: Fidelity Digital Assets is Fidelity's institutional crypto custody and trading arm. It is a broad incumbent competing for the same institutional client base with the backing of a much larger parent balance sheet.
• BNY Mellon: BNY Mellon, the largest custodian bank, has launched digital asset custody services and is exploring tokenized collateral. It represents a broad incumbent moving into Copper's core institutional digital asset custody space.

Direct peers

• Anchorage Digital: Anchorage Digital is a federally chartered digital asset bank offering institutional custody, trading, and staking. It competes head-on with Copper on regulated US institutional custody and staking services.
• Fireblocks: Fireblocks provides institutional-grade digital asset custody, settlement, and treasury management using MPC technology, with a network similar in concept to Copper's ClearLoop. It is one of the closest direct competitors to Copper's institutional custody and off-exchange settlement stack.
• BitGo: BitGo provides institutional digital asset custody, settlement, and lending, and has historically been a leading qualified custodian. It overlaps closely with Copper's custody and lending products.
• Zodia Custody: Zodia Custody is an institutional digital asset custodian backed by Standard Chartered, offering qualified custody similar to Copper's. It targets the same institutional customer segment.
• Coinbase Prime: Coinbase Prime is the institutional arm of Coinbase offering custody, prime brokerage, and financing for digital assets. It is a primary direct competitor on US institutional custody and trading infrastructure.
• Galaxy Digital: Galaxy Digital offers institutional trading, lending, custody, and asset management across digital assets. It is a direct competitor across Copper's prime brokerage and financing lines.
• Gemini: Gemini operates a regulated US digital asset exchange and custody service. It overlaps with Copper's institutional custody and trading and settlement offerings, particularly for US-based counterparties.
• FalconX: FalconX provides institutional digital asset trading, credit, and prime brokerage services. It competes directly with Copper on institutional execution and financing workflows.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xtwitter.com/CopperHQ
• GitHubgithub.com/orgs/copperexchange
• LinkedInlinkedin.com/company/copperco

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Copper Markets (US)