Crypto Custody Firm Copper Receives Key License in Hong Kong as it Expands in Asia Pacific
Summary
Crypto custody firm Copper has obtained a Trust or Company Service Provider (TCSP) license in Hong Kong, allowing it to provide trust and corporate services to institutions in the region. This is a significant step in Copper's global expansion and compliance with international regulations. The company's ClearLoop network enables clients to manage collateral and settle trades across multiple exchanges, reducing counterparty risk and improving capital efficiency. Copper claims to have the largest global network for off-exchange settlement, processing 13.1 million trades worth $109.9 billion in June. Last month, Kraken MTF, a derivatives trading unit for institutions, joined Copper's ClearLoop network.
