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Barclays acquires stake in £2bn crypto firm Copper

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Barclays has acquired a stake in crypto custody and prime broking firm Copper, according to a report by AltFi. The report cites Sky News as revealing that the investment is expected to be completed within the coming days.

Established in 2018 by Dmitry Tokarev, Copper, which counts former UK Chancellor Philip Hammond among its advisers, provides storage and crypto purchasing services es for institutional investors. 

The deal is Barclays’s second investment a crypto firm this year following a co-investment with Goldman Sachs in crypto trading platform and technology provider Elwood Technologies, which was founded by British hedge fund billionaire Alan Howard.

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