Former Chancellor of the Exchequer, Lord (Philip) Hammond of Runnymede, has joined Copper.co, a London-based provider of digital asset custody and trading infrastructure, as a Senior Adviser. He takes up this role with immediate effect.
Hammond will provide strategic advice to the Copper team as the company expands globally. Copper announced the launch of its US East Coast office in August 2021 with plans to launch in Asia already underway. Significant global growth follows the completion of an extended USD75 million funding round in June 2021, led by investor Alan Howard, and venture capital firms Dawn Capital and Target Global.
Hammond will focus on promoting the UK as a global leader in digital asset technology. Copper’s latest funding round and strong growth throughout the last 18 months evidences a growing appetite from institutional investors for digital assets. This early work in connecting traditional finance with distributed ledger technology (DLT) lays the groundwork for the eventual transition for all assets, both real and financial, onto a DLT-based system.
A member of the British Conservative Party and a Life Peer, Hammond is one of only three people to have served continuously in the UK cabinet from 2010 to 2019, serving under Prime Ministers David Cameron and Theresa May. He served as Chancellor of the Exchequer from 2016 to 2019, Foreign Secretary from 2014 to 2016, and Defence Secretary from 2011 to 2014.
Dmitry Tokarev, Chief Executive Officer, Copper,says: “We are delighted to welcome Lord Hammond to the Copper team. Over the last 18 months, Copper has grown exponentially, now serving over 400 institutional clients. We would like to drive growth in our client base within a regulatory framework which will allow us to thrive globally from our London headquarters. With Lord Hammond’s expertise adding to the strength of our team, we look forward to growing Copper and further enhancing the UK’s digital asset technology offering.”
Hammond says: “Copper is a true pioneer of digital asset investment technology, innovating the highest standards of security and trading for financial institutions.
“But the really exciting opportunity lies in the application of this technology to revolutionise the way financial services are delivered. If we can bring together the best of Britain – entrepreneurs, industry, government, and regulators – to create and enable a blockchain-based ecosystem for financial services, we will secure the UK’s global leadership in this field for decades ahead.
“I am looking forward to working with Dmitry and the team at Copper as we pursue this ambition to change and grow a new global digital economy, from right here in the centre of London.”
