Copper Seeks $500M Buyer as Cantor Fitzgerald Runs the Sale Process

Crypto custody firm Copper is shopping itself to potential buyers at a $500 million valuation, with Wall Street investment bank Cantor Fitzgerald appointed to run the sale process, according to two people familiar with the matter. Neither Copper nor Cantor responded to requests for comment.

The centrepiece of any deal is ClearLoop, Copper's in-custody settlement system launched in 2020. ClearLoop allows institutional participants to execute delivery versus payment (DvP) from within custody without moving assets onchain, eliminating settlement risk. The platform now serves more than 1,000 active counterparties and processes over $50 billion in monthly notional trading volume.

Copper had previously weighed an IPO earlier this year, potentially following custodian BitGo's path to public markets. That plan stalled as bitcoin traded below $80,000 and AI capital flows crowded out crypto…