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U.K. bank Barclays (BARC) is among the investors in cryptocurrency custody firm Copper's $2 billion funding round, according to a report by Sky News.
- Barclays is expected to invest a sum in the "millions of dollars" range as part of the raise, Sky News reported on Sunday, citing sources. The funding round values Copper at $2 billion and is expected to close in the coming days.
- Copper has chosen to become regulated in Switzerland, after it was unable to register with the U.K.'s Financial Conduct Authority.
- Former Chancellor Philip Hammond serves as an advisor for Copper.
- Barclays is one of the U.K.'s biggest banks with total assets of around $1.4 trillion as of 2021. Thus far the extent of its involvement in the crypto industry is its decision of July last year to block its customers from using their cards to make payments to Binance.
- Neither Barclays or Copper immediately responded to CoinDesk's request for comment.
