Copper Technologies, based in England, is preparing to unveil a high-end crypto brokerage platform with team members from the Bank of America (BofA). Former Bank of America executives have been hired to lead the firm’s new crypto platform, which specialises in providing infrastructure for digital assets. According to sources, the brokerage network will try to provide direct access to cryptocurrency purchases for investors and banks.
Copper CEO Dmitry Tokarev commented on developments as the followings:
“..To ensure, supplying a true prime brokerage service in this market, the company’s infrastructure would isolate the trading process including purchases from exchanges… There isn’t a single sell-side firm on the planet, or at least not in the leading 20, that isn’t working on a digital asset project.…”
Former Bank of America team
Micheal Roberts, a former leader of brokerage platforms across Europe, and the Middle East for Bank of America will lead the team. Adam Groom, Ben Carr, Paul Barham, and Ross Budgen, all former executives of BofA, make up the remainder of the team.
Crypto trend in investment banking career
The former BofA workers’ job choice reflects the noteworthy trend of traditional bankers switching to the cryptocurrency world.
Executives from major corporations like Fidelity International, Mastercard, and E&Y attended the Miami Bitcoin Conference last week, presumably to explore career and investment prospects.
Copper Technologies
Copper is currently undergoing another round of fundraising, after which it is projected to be valued at over $3 billion. On the other hand, Copper is attempting to get its regulation status recognised for conducting business in Switzerland after failing to receive complete permission from the UK’s Financial Conduct Authority with respect to anti-money laundering requirements.
