Crypto Custodian Copper Looks Into IPO After BitGo’s Market Debut

TLDR

• Copper is reportedly exploring the possibility of an initial public offering as institutional interest in cryptocurrency grows.
• Major banks like Deutsche Bank, Goldman Sachs, and Citigroup are involved in Copper’s discussions about a potential IPO.
• Copper offers institutional-grade custody, settlement, and collateral management services for digital assets.
• The company has partnered with Cantor Fitzgerald and Coinbase to provide tailored solutions for institutional clients.
• BitGo’s recent IPO highlights the growing role of cryptocurrency infrastructure companies in traditional financial markets.

Digital asset custodian Copper is reportedly considering an initial public offering (IPO) following BitGo’s recent debut on the New York Stock Exchange. The move signals increasing institutional interest in cryptocurrency infrastructure companies. Sources close to the discussions revealed that Copper is exploring its options, with major banks such as Deutsche Bank, Goldman Sachs, and Citigroup involved in the process.

Despite the ongoing discussions, Copper has declined to confirm whether it plans to pursue an IPO. A company spokesperson stated that the firm is not planning a public listing at this time. However, the spokesperson refrained from commenting on whether the custodian is in the early stages of talks regarding a potential IPO.

Copper’s Role in the Crypto Space

Copper provides institutional-grade services in custody, settlement, and collateral management for digital assets. The company aims to help financial institutions store and transfer digital assets securely, reducing counterparty risks. Backed by Barclays, Copper has built a reputation for offering tailored solutions to meet the needs of institutional clients.

The firm’s services have been crucial to growing institutional adoption of cryptocurrency. Last year, Cantor Fitzgerald selected Copper as one of its custodians for Bitcoin, alongside Anchorage Digital. Additionally, Copper partnered with Coinbase to facilitate off-exchange settlements for institutional clients, reinforcing its position in the market.

Rising Institutional Demand for Crypto Infrastructure

The increasing demand for cryptocurrency infrastructure reflects the growing institutional interest in digital assets. The landscape has changed significantly, driven by evolving regulations in the United States. Many financial institutions are now looking for secure ways to store and manage digital assets as they enter the market.

The potential IPO of Copper would follow BitGo’s recent market debut. BitGo priced its IPO at $18 per share and raised more than $200 million, although its stock has since seen volatility. The company’s IPO highlights the expanding role of digital asset firms in traditional financial markets.

Several other crypto companies are reportedly exploring public listings. Firms like Kraken, a major crypto exchange, and Ledger, a hardware wallet provider, are considering similar moves. As more digital asset companies pursue public markets, the sector continues to gain traction among investors.

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