Copper.co, usually branded as Copper, is a company that provides institutional digital-asset custody and market infrastructure. Founded in London in 2018, it is best known for MPC-based custody and ClearLoop, a network for trading and collateral workflows that can let clients access connected venues without first depositing their assets directly with each exchange.
Company Background
Copper was created for banks, asset managers, trading firms, exchanges, and other professional clients that need controls for holding and moving digital assets. It is not a token, a public exchange, or a consumer wallet. Its products connect custody, trading, financing, staking, and settlement services, with access and legal terms that depend on the client’s jurisdiction and the particular Copper entity named in the agreement.
The company launched in 2018 with multi-party computation (MPC) custody. MPC divides key operations among multiple parties or components so that a complete private key does not need to be assembled in one place. Copper describes its custody architecture as using MPC and governance controls; customers still depend on the custodian’s systems, procedures, legal arrangements, and ability to operate.
ClearLoop and Institutional Trading
MPC custody is one part of Copper’s infrastructure. ClearLoop is its off-exchange settlement and collateral network, which connects participating custodians, prime brokers, trading venues, and post-trade providers. Instead of pre-funding every exchange account, eligible clients can keep assets in a custody arrangement and use connected workflows to trade and settle according to the agreements and controls in place.
This setup can reduce the amount of collateral that must sit at an exchange and may improve how institutions use capital across venues. It does not erase counterparty or operational risk: clients still rely on the custodian, participating venues, network connections, settlement procedures, and legal agreements. A failure, dispute, service outage, or market event can still affect access to assets or positions. ClearLoop is a commercial service, not a blockchain or a guarantee against loss.
Copper’s broader product suite includes custody, collateral management, trading and settlement, staking, financing and lending, treasury tools, and OTC services. Recent additions illustrate the range: in June 2026, Copper and FalconX launched ClearLoop Loans for eligible clients; in October, Copper announced an interface for institutional access to Hyperliquid perpetual markets through Copper’s platform. These products have specific eligibility and jurisdiction limits, and financing adds lender, leverage, and liquidation risks.
Leadership and Regulatory Scope
In September 2026, Copper appointed Elin Cherry and Sam Goh as co-CEOs, replacing Amar Kuchinad, who moved to an advisory role. Founder Dmitry Tokarev remains on Copper’s board. Copper also announced that its U.S. entity, Copper Markets (US) Inc., had become an SEC-registered broker-dealer and a FINRA member, which the company describes as establishing its qualified-custody presence in the United States.
“Copper” is a shared brand used by different legal entities. Registration, custody, and available services are not identical across countries or affiliates. A client should identify the entity in the account documents and check the applicable disclosures; a U.S. registration does not automatically describe Copper’s status or protections elsewhere.
Risks and Limitations
Custody can reduce the need to keep assets on an exchange, but it replaces one set of dependencies with another. Clients must evaluate Copper’s custody controls, legal structure, insurance terms, supported assets, connected venues, and recovery procedures. “Off-exchange” describes where collateral is held within a trading arrangement; it should not be read as “risk-free” or as proof that every asset can be withdrawn immediately under all circumstances.
Copper markets its services to institutions and professional clients, not as a general retail account. Product availability can vary by jurisdiction, and the relevant Copper affiliate and contract terms matter. Its services should be assessed as infrastructure and custody arrangements, not as an investment recommendation.
Social Media Sentiment
- r/Hedera: A relevant August 2024 thread about Copper’s planned HBAR custody and ClearLoop integration has limited discussion. The few user replies raise practical questions about institutional custody and governance-related HBAR holdings; most of the thread repeats the integration announcement. It shows a narrow set of questions, not broad or current sentiment about Copper. Read the discussion.
Last updated: 2026-10
Related Terms
See Also
- How the 2024 Bitcoin ETF Changed Crypto
- What the Celsius Collapse Actually Tells Us About Crypto Lending Risk
- Why Smart Contract Audits Fail
- Exchange crypto with ChangeNOW
Sources
- Copper. “About Copper” — Provides the company’s 2018 London launch history, current institutional focus, MPC custody overview, and product scope.
- Copper. “ClearLoop Network” — Describes the network’s custody, venue, collateral, and settlement roles and frames its benefits as risk reduction rather than risk elimination.
- Copper. “Leadership Transition and New Management Team” (September 22, 2026) — Records the co-CEO appointments, Tokarev’s board role, and Copper’s entity-specific regulatory disclosures.
- Copper. “Copper Establishes Regulated U.S. Presence” (August 12, 2026) — States the U.S. affiliate’s SEC broker-dealer and FINRA status and explains the scope of its U.S. offering.
- Copper. “Copper Launches Hyperliquid Trading Interface” (October 1, 2026) — Describes institutional access to Hyperliquid markets through Copper and notes eligibility and jurisdiction limits.