Crypto Custody Firm Copper Receives Key License in Hong Kong as it Expands in Asia Pacific

As a seasoned crypto investor and observer of the industry, I can’t help but be impressed by Copper’s latest achievement in securing a Trust or Company Service Provider (TCSP) license in Hong Kong. This is not just another regulatory milestone for the company, but a significant development in its expansion into the Asia Pacific market.

In a recent press release on Wednesday, crypto custodian Copper announced that they have obtained a Trust or Company Service Provider (TCSP) license in Hong Kong.

In simpler terms, a license from Hong Kong’s Companies Registry is a legal document that allows its holder to offer trust and corporate services to organizations based in the region.

This victory signifies a significant advancement in Copper’s global growth strategy and adherence to international rules and regulations. The company made this statement.

“Dmitry Tokarev, Copper’s founder and CEO, stated in a press announcement that this latest advancement represents a significant step forward in our company’s growth within the Asia Pacific region. Trust and efficiency are paramount to our business philosophy, which prioritizes institutions above all.”

Tokarev commented, “Obtaining this license approval in a significant international location further enhances our distinct proposition. It underscores Copper’s commitment to adhering to Hong Kong’s regulatory guidelines and benchmarks.”

With Copper’s ClearLoop network, clients can effortlessly oversee collateral and execute trades on multiple exchanges, all while minimizing counterparty risk and enhancing capital utilization.

Based on Copper’s report, it now leads as the world’s biggest platform for off-exchange trade settlement. In June alone, it handled over 13.1 million transactions valued at a staggering $109.9 billion.

Last month, Kraken MTF, the institutional derivatives trading division of the cryptocurrency exchange Kraken, became a part of Copper’s ClearLoop network.