Copper to offer custody services for tokenized funds like BlackRock's BUIDL following regulatory approval

Copper, a London-based cryptocurrency custodian, will offer custody and trading services for tokenized money market funds, including BlackRock's BUIDL, following regulatory approval from the Financial Services Regulatory Authority (FSRA) in Abu Dhabi, CoinDesk reported. The approval also allows Copper clients to use tokenized funds as collateral in derivatives trades. Copper has formed new partnerships with tokenization leaders like Securitize and Franklin Templeton. CEO Amar Kuchinad noted that tokenized funds could boost returns for derivative traders by generating income from posted collateral.