Former UK Chancellor appointed as Chairman of Copper, stating that Copper has completed a new round of financing with a valuation of $2 billion

ChainCatcher news, according to the Financial Times, former UK Chancellor of the Exchequer Philip Hammond announced that he will join the crypto asset custody company Copper as chairman.

Philip Hammond stated that most of the funding for Copper's new round of financing is already in place, and this fundraising is expected to value the company at around $2 billion. He has been an advisor to the group since 2021 and holds a small stake in the company. Investors include venture capital and private equity as well as strategic investors like Barclays Bank.

In addition, Philip Hammond warned that the UK is falling behind its EU competitors as a financial center for digital assets, and the UK needs to accelerate efforts to establish a more effective regulatory framework for digital assets. (Source link)