Formula E and Copper.co, the multi-award-winning provider of institutional digital asset custody and trading solutions, today announced a multi-year partnership with the ABB FIA Formula E World Championship.
The new partnership category for Formula E will see Copper become the Official Digital Asset Services Partner, effective from the Diriyah E-Prix on January 28 and 29, the opening rounds of Season 8. The partnership will pave the way for future cooperation between Copper and Formula E in the digital asset space.
Additionally, Copper branding will feature trackside in iconic world cities including London, New York, Jakarta and Berlin with the only all-electric motorsport World Championship staging 16 races this season, the biggest race calendar yet.
Copper, which is headquartered in London and was founded in 2018, has raised $84.3mn of funding to date, most recently via a $75mn Series B, which included a $25mn extension led by Alan Howard. The company acts as a custodian and trading solutions provider for more than 400 institutional clients that buy, sell, and must securely store cryptocurrencies and digital assets. Copper‘s product offering is solely for institutional investors, it does not have retail clients.
Dmitry Tokarev, Chief Executive Officer, Copper, said: “With every race, Formula E showcases the forefront of technological innovation in motor racing and electric mobility. Copper is doing the same, providing technical innovation for the next generation of assets and trading. We want everyone to benefit from the market-leading tech we have built as digital assets, and the diverse applications of the underlying blockchain technology, take their place in the mainstream.”
Jamie Reigle, Chief Executive Officer, Formula E, said: “We are excited to welcome Copper as a new partner of the ABB FIA Formula E World Championship. The international growth of our sport during the past seven seasons mirrors Copper’s formidable progress since it was founded less than four years ago. Both Formula E and Copper are successfully challenging convention and we share a passion for the potential of innovation and technology to redefine the future of our industries. We look forward to collaborating with Copper’s team to create special experiences for our fans and to showcase the digital asset technology they have built, with a tenacity for progress that mirrors our own.”
Founded in 2018 by Dmitry Tokarev, Copper provides a gateway into the cryptoasset space for institutional investors by offering custody, prime services, and settlements across 450 digital assets and more than 45 exchanges. It is committed to providing flexible solutions for institutional investors that can adapt to the changing cryptoasset space, while enabling far greater transparency and control for asset managers.
Copper’s fully integrated products are unique in the cryptoasset space. Underpinned by multi-award-winning custody, Copper has built the comprehensive and secure suite of tools and services* required to safely acquire, trade, and store cryptocurrencies.
At the core of Copper’s infrastructure is ClearLoop, a framework that connects the universe of exchanges in one secure trading loop — with real-time settlement across the Networks. Integrated with market leading spot and derivative crypto exchanges, ClearLoop has already transformed the way in which institutional investors can engage in the cryptoasset space since launching in May 2020.
As the world’s only all-electric FIA World Championship and the only sport certified net zero carbon since inception, the ABB FIA Formula E World Championship brings dramatic racing to the heart of some of the world’s most iconic cities providing an elite motorsport platform for the world’s leading automotive manufacturers to accelerate electric vehicle innovation.
The Formula E network of teams, manufacturers, partners, broadcasters, and host cities are united by a passion for the sport and belief in its potential to accelerate sustainable human progress and create a better future for people and planet.
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Our settlements and clearing service is backed by our award winning custody technology
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