Barclays is to acquire a stake in Copper, a cryptocurrency company whose advisers include former British Chancellor of the Exchequer Philip Hammond, according to Sky News.
The British bank is among a group of investors involved in a funding round for Copper and will invest a few million dollars, with the fundraising expected to be completed within days, Sky News reported on Sunday, citing sources.
Copper, according to Bloomberg, provides custody, brokerage and settlement services to institutional investors investing in cryptocurrency-related assets.
Barclays and Copper declined to comment on the information, according to Sky.
Companies linked to crypto have had a tough year. In fact, some companies have reached the bankruptcy, as major digital currencies, such as Bitcoin, have declined along with other global assets.