UK digital asset custody firm Copper has raised $196 million in Series C funding. While the filings were only made in the last few days, the bulk of the money was received last year. Earlier this year it was reported that Barclays Bank is one of the investors. However, the startup didn’t formally announce the funding and a recent move by the company indicates it may plan to return some money to investors.
State Street Digital previously announced that Copper would be its technology partner.
The UK’s regulator, the FCA, which provides AML licenses, failed to grant one to Copper, which withdrew its application in late June after joining the Swiss self-regulatory organization, VQF. At that point, it moved customers that fell under the UK registration to its Swiss subsidiary.
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