Copper Hires BofA Team to Build Prime Brokerage Crypto Product

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 team includes Michael Roberts, Head of EMEA Brokerage Platforms at Bank of America, Adam Groom, former Director at Bank of America, and others. It is reported that Copper is in the process of raising its next funding round, which is expected to value the startup at around $3 billion.