As of this week, Britain’s former finance minister, Philip Hammond, takes over as advisor to the cryptocurrency investment firm Copper.co, which manages a trading portfolio of more than $50 billion dollars on a monthly basis on behalf of about 400 customers.
Philip Hammond, one of the wealthiest members of UK’s conservative party with a fortune of more than 8 million British pounds has always been a supporter of the digital financial industry and always positively disposed to the financing of start-ups.
In addition to the position of adviser in Copper.co, Hammond has been appointed to 11 paid positions and two unpaid since leaving the British Parliament.
In the summer of 2019, he submitted his resignation as finance minister because Boris Johnson was elected as Britain’s prime minister.
He was entirely consistent with his word because he had made it clear that he would leave his post if Johnson took over the reins of the country.
The reason? Mainly because, as he himself had said, if he remained a member of the Johnson administration he might be forced to support a disorderly Brexit, which he loathed for the country.
Copper announced that Hammond will focus “on promoting Britain as a global leader in digital asset technology“.
The company [Copper.co] was founded in 2018 and recently announced plans to expand to Asia and the US. It has, in fact, secured 75 million USD in investment funds from big investor Alan Howard and investment firms in innovations Dawn Capital and Target Global.
Hammond sees Copper.co as a promising company in the field of cryptocurrencies and digital asset technology.