Crypto Custody Firm Copper Receives Key License in Hong Kong as it Expands in Asia Pacific
- 王林Original
- 2024-07-19 03:02:29856browse
The license is a legal authorization granted by Hong Kong's Companies Registry and permits the holder to provide trust and corporate services to institutions in the region.
Crypto custody firm Copper has been granted a Trust or Company Service Provider (TCSP) license in Hong Kong, the company announced on Wednesday.
The license, granted by Hong Kong’s Companies Registry, permits the holder to provide trust and corporate services to institutions in the region.
This marks a key step in Copper’s global expansion and its compliance with international regulations, the firm said.
“This is a key development in Copper’s expansion in the Asia Pacific market. Combining trust and efficiency is fundamental to our institution-first approach,” said Dmitry Tokarev, founder and CEO of Copper, in the press release.
“This license approval in a key global hub only strengthens that unique offer, highlighting Copper’s compliance with Hong Kong’s regulatory frameworks and standards,” Tokarev added.
Copper’s ClearLoop network enables clients to manage collateral and settle trades across multiple exchanges while reducing their counterparty risk and boosting capital efficiency.
According to Copper, it has become the largest global network for off-exchange settlement, processing 13.1 million trades valued at $109.9 billion in June.
Kraken MFT, the crypto exchange’s institution-only derivatives trading unit, joined Copper's ClearLoop network last month.
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