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Copper Hires BofA Team to Build Prime Brokerage Crypto Product

  • Execs join London crypto custodian to build out new offering
  • Copper still in talks about registration with U.K. regulator
The Copper Technologies website.

The Copper Technologies website.

Source: Copper Technologies Ltd.

Copper Technologies Ltd. hired a team of executives from Bank of America Corp. to run a unit developing infrastructure for prime brokerage platforms, seeking to meet demand from institutional investors and banks for more direct access to cryptocurrencies.

The London-based digital asset custodian said the unit will be led by Michael Roberts, who joins immediately from BofA, where he was head of the bank’s prime brokerage platform for the Europe, Middle East and Africa region. Roberts will be joined by former BofA directors Adam Groom and Paul Barham from the same team at the bank, as well as Ben Carr and Ross Budgen.