Former British Chancellor's Crypto Firm Copper Launches Tokenized Securities Platform

Leveraging Blockchain Technology for Institutional Investors

London-based crypto trading firm Copper is set to launch a platform for tokenized securities in early 2023. Led by former British Chancellor Phillip Hammond, the company aims to meet the growing demand from institutional investors. The service will initially be available in Abu Dhabi, United Arab Emirates, through Copper Securities, the firm's new arm in the country. Copper is currently seeking regulatory approval from local authorities.

Expanding Access to Global Markets

Using blockchain technology, Copper plans to provide securities financing and payment solutions to institutional clients in over 90 markets worldwide. The platform will offer accessibility and convenience for investors looking to tap into diverse investment opportunities.

Building on Hammond's Expertise

Hammond, who has been advising the government of Saudi Arabia since 2021, brings extensive knowledge of the region to Copper. He joined the company as a senior advisor in 2021 and later became the chair in 2023. Hammond has been a proponent of blockchain technology, emphasizing its potential to enhance the financial sector's competitiveness in a post-Brexit era.

The Rise of Tokenization

Tokenization, the process of converting financial assets into digital tokens on a blockchain, has gained significant attention in 2023. It offers benefits such as increased market liquidity and fractional ownership, democratizing access to expensive assets. In the United Kingdom, investment managers are being encouraged to embrace blockchain technology for tokenizing investment funds, leading to a more efficient and transparent financial industry, according to a report by the Investment Association.

As Copper prepares to launch its tokenized securities platform, it aims to revolutionize the way institutional investors access and trade financial assets. With Hammond's expertise and the power of blockchain technology, the company is poised to make a significant impact in the evolving digital landscape.