Crypto custody company Copper has launched a settlement network independent of custodians for institutional clients.

Crypto trading firm Copper, led by former British Chancellor Phillip Hammond, plans to offer tokenized securities using blockchain technology to institutional clients starting early next year. The service will first be launched in Abu Dhabi through Copper Securities, which is currently seeking regulatory approval. The platform will provide financing and payment solutions for more than 90 markets worldwide. Tokenization of assets is becoming increasingly popular, with investment managers in the UK encouraged to use blockchain technology to tokenize investment funds for a more efficient and transparent financial industry.