London-based provider of digital asset custody and trading technology Copper has announced that Alan Howard, co-founder of asset manager Brevan Howard, has led a $25m extension to the $ 50 million Series B funding round announced earlier in May that was led by Dawn Capital and Target Global.
Brevan Howard CEO Alan Howard
The additional funding will be directed to further strengthen Copper’s expertise in enabling traditional financial firms to benefit from blockchain technology and cryptocurrencies. The firm stressed that the additional funding shows the growing interest in crypto from the traditional finance sector.
“I am delighted to have the opportunity to support Copper. Their pioneering technology, particularly in the security and speed of cryptocurrency transactions, is essential for the traditional world to offer crypto products to their clients.” Alan Howard commented; “This, coupled with their relentless focus on servicing clients with industry-leading customer support, is taking the best from both worlds and positioning the firm as the dominant player in the digital asset infrastructure space.”
Dmitry Tokarev, CEO of Copper, added; “We’re very grateful for Alan’s backing. His early commitment to the space sets him out from other traditional players and we value the experience and expertise he brings not just to Copper, but to the whole digital asset ecosystem.”
Alan Howard is an investor in companies such as Coinshares, Block.one (behind EOS blockchain) and Elwood, an institutional crypto market access and trading tech platform enabling FinTechs, Asset Managers and Financial Institutions with the broadest range of crypto assets.
Howard also owns a 25% stake with One River Digital Asset Management, a hedge fund that purchased $600 million worth of BTC and ETH in 2020.