Lord Hammond will work with the child care provider as an advisor.
Custodianship of cryptocurrencies and start trading in copper announce That the former Chancellor of the Exchequer, Lord Philip Hammond, has joined the firm as Senior Counsel.
Copper, a UK-based company established in 2018 targeting institutional investors, said in a statement that Lord Hammond would take over immediately.
Hammond is one of the UK’s top political figures to join a cryptocurrency firm as a consultant. The former MP served between 2010 and 2019, and his other notable role was Secretary of State.
Mr. Hammond is expected to provide strategic advice to the team at the cryptocurrency firm, which is looking to expand its services worldwide after entering the US. In addition, the former advisor will defend the UK as a leader in the emerging blockchain and cryptocurrency space.
Copper has seen significant growth over the past year, with CEO Dmitry Tokarev noting that the cryptocurrency firm now serves more than 400 institutional clients.
Tokarev also highlights Cooper’s focus on expanding into the regulatory compliance environment, where Lord Hammond brought critical expertise and experience in the field.
Commenting on his new role at Copper, Lord Hammond noted that this is an opportunity to apply Copper’s trading and crypto technology in a way that will revolutionize the provision of financial services.
The key, he says, is to work with everyone, whether entrepreneurs, governments or regulators, and the result is likely to secure the UK’s position in the industry for decades to come.
Cooper raised $25 million in June in a Series C funding round led by British hedge fund billionaire Alan Howard. This influx of funds came on top of the $50 million raised in the Series B funding round that ended in May.