London-based crypto trading firm Copper, under the leadership of ex-UK Chancellor Phillip Hammond, is set to launch a tokenized securities platform in Abu Dhabi. The move aims to meet the rising demand from institutional investors, utilizing blockchain for securities financing. Regulatory approval is in progress, with plans to access over 90 global markets.
Copper, a crypto trading firm led by former UK Chancellor Phillip Hammond, is gearing up to introduce a tokenized securities platform in early 2023. The company’s new arm, Copper Securities, will debut the service in Abu Dhabi, catering to institutional investors. Regulatory clearance is underway in the United Arab Emirates.
Utilizing blockchain technology, Copper aims to provide securities financing and payment solutions to institutional clients. The platform will offer access to more than 90 global markets. The move follows Copper’s acquisition of its securities arm earlier this year, aligning with its strategy to offer tokenized securities within the Abu Dhabi Global Market.
Phillip Hammond, with ties to the region and advisory roles in Saudi Arabia since 2021, emphasizes the importance of Distributed Ledger Technology for the post-Brexit UK Financial Services sector. The platform’s launch aligns with the growing trend of asset tokenization in 2023, promoting access to costly assets and enhancing market liquidity through fractional ownership.
In the UK, investment managers are urged to adopt blockchain for tokenizing investment funds, marking a shift from traditional record-keeping systems. A recent report by the Investment Association highlights the potential for a more efficient and transparent financial industry through the tokenization of investment funds.