Cryptocurrency custody company Copper is seeking to sell the company at an estimated valuation of around $500 million

According to CoinDesk, cryptocurrency custody company Copper is seeking to sell the company at a valuation of approximately $500 million and has engaged Wall Street investment bank Cantor Fitzgerald to assist in advancing the transaction.

Copper's core asset is the ClearLoop custody settlement system, which supports institutional clients in completing delivery versus payment (DvP) without putting assets on-chain, effectively eliminating settlement risk. The company currently has over 1,000 active counterparties, with a nominal trading volume exceeding $50 billion per month.

Copper had previously considered an IPO, but due to the sluggish Bitcoin prices and the capital-absorbing effect of the AI sector, the overall crypto IPO market has entered a wait-and-see mode.