The firm’s adviser is former Chancellor Philip Hammond.

Sky News reports that Barclays Plc. purchased stock in Copper, a cryptocurrency business that counts former chancellor Philip Hammond among its advisors.

The investment round for Copper will be finished in a few days, and the UK lender is one of a number of new investors that have joined it. The lender is investing several million dollars.

Copper provides various services to investors

Copper’s head of communications, Sophie Arnold, issued a statement stating that the company “is unable to comment on this report as the investment round proceeds.”

She claimed that businesses involved in cryptocurrencies have had a challenging year, with some even considering bankruptcy as big digital tokens like bitcoin fell along with other risky assets globally.

Copper offers primary brokerage, settlement, and custodial crypto assets to institutional investors.

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