Digital asset custody and trading solutions Copper.co (Copper) has named former Chancellor of the Exchequer Philip Hammond as chair.
Hammond has been a senior adviser at Copper for more than a year, contributing to the company’s growth and global expansion. During his time with the firm, it has been chosen by State Street Digital as infrastructure partner and onboarded a number of hedge funds.
Prior to joining Copper, Hammond spent several years in politics. He served as secretary of state for transport, secretary of state for defence and secretary of state for foreign and commonwealth affairs before becoming chancellor of the exchequer in 2016.
He has been a continual supporter of digital asset technology in the UK, working to develop the need for a regulatory framework around digital assets.
Commenting on his appointment, Hammond says: “Recent security and regulatory challenges affecting the digital asset sector have only served to emphasise the need for safe, well-regulated trading infrastructure. Copper has pioneered the use of digital asset investment technology, which is increasingly emerging as the leading option for global financial institutions to trade and safeguard their digital assets.”
Dmitry Tokarev, CEO of Copper, adds: “It has been a privilege to benefit from Hammond’s strategic expertise forged by his successful career in politics and business. In addition to his guidance and experience benefiting and enhancing Copper, his public advocacy relating to the importance of connecting traditional finance with distributed ledger technology comes at a time when it is needed more than ever.”
