Copper Obtains Trust or Company Service Provider License in Hong Kong

Crypto custody specialist, Copper, has successfully acquired a Trust or Company Service Provider (TCSP) license in Hong Kong, as revealed in a recent press release. The license, issued by Hong Kong’s Companies Registry, authorizes Copper to deliver trust and corporate services to institutions within the region.

This milestone marks a significant advancement in Copper’s global expansion strategy and demonstrates the company’s commitment to adhering to international regulatory standards. Dmitry Tokarev, the founder and CEO of Copper, expressed enthusiasm about the achievement, stating, “Combining trust and efficiency is fundamental to our institution-first approach. This license approval in a key global hub only strengthens that unique offer, highlighting Copper’s compliance with Hong Kong’s regulatory frameworks and standards.”

Copper’s innovative ClearLoop network enables clients to efficiently manage collateral and settle trades across multiple exchanges while reducing counterparty risk and enhancing capital efficiency. The platform has evolved into the largest global network for off-exchange settlement, processing an impressive 13.1 million trades totaling $109.9 billion in June alone.

In a recent collaboration, Kraken MTF, the institutional derivatives trading arm of the popular crypto exchange Kraken, integrated with Copper’s ClearLoop network, further expanding the platform’s reach and capabilities.