SCOOP: Custody giant StateStreet has decided to end its licensing agreement with crypto firm CopperHQ. IanAllison123 reports
“State Street and Copper have mutually decided to end their licensing agreement and both companies will continue to build on their digital strategies within their own respective product development approaches,” a State Street spokesman said via email.
State Street will continue to work on “a multi-faceted solution for both tokenized securities as well as native tokens,” the bank said, adding that the “regulatory environment for digital assets has continued to evolve, as has the requirements for servicing this asset class.” The latest wave of uncertainty to grip the crypto industry has seen several of its dedicated banking partners collapse or. Adding to this trend, Copper announced somewhat out of the blue Thursday that it was closing down its enterprise infrastructure business to connect banks and hedge funds with digital assets. It will instead focus on its Clear Loop custody and settlement business.
Copper’s association with State Street, one of the largest custody banks in the world, was seen as a major coup for the London-based crypto firm, whose chairman is former U.K. Chancellor of the Exchequer Philip Hammond.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Crypto Custody Firm Copper Shelves Enterprise Business: SourceSCOOP: Crypto custody firm CopperHQ is cutting its entire enterprise software business, according to a source close to the company. IanAllison123 reports
Read more »
State Street sidewalk closed at Adams; feds cite pedestrian danger at buildings it wants to razeThe federal government has closed the sidewalk in front of buildings it owns at the southwest corner of State and Adams streets, citing a threat to pedestrians from deteriorating facades. The property includes two early 20th century skyscrapers that preservationists want to save.
Read more »
State Street Sidewalk Closed at Adams After 2 Buildings in Loop Land on ‘Most Endangered' ListThe federal government has closed the sidewalk in front of buildings it owns at the southwest corner of State and Adams streets, citing a threat to pedestrians from deteriorating facades. The property includes two early 20th century skyscrapers that preservationists want to save.
Read more »
Man accused of shooting state trooper appears in court in N.J. after fleeing state, sparking manhuntThe suspect was arrested in South Carolina.
Read more »
NCAA First Four: Pitt edges Mississippi State, will next play Iowa StateJamarius Burton made a go-ahead jumper with 10 seconds left.
Read more »
Ohio State Opens As Three-Touchdown Favorite Over Michigan State in 2023FanDuel Sportsbook has marked Ohio State as a three-touchdown favorite against Michigan State in another round of betting lines for the 2023 college football season.
Read more »