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Copper shifts focus to Clear Loop hosting, shuts down software department

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Copper shifts focus to Clear Loop hosting, shuts down software department

It is reported that Copper, a British encryption and hosting company, will close its software and infrastructure development department to focus on the Clear Loop hosting and settlement business. Copper’s corporate division focuses on providing digital asset custody and infrastructure solutions for banks and funds. Sources say layoffs have begun, but it is too early to say how many people will be affected.

Encryption hosting company Copper will shut down its software and infrastructure development department

Analysis based on this information:


Copper, a well-known encryption and hosting company based in the United Kingdom, has made a significant decision to close down its software and infrastructure development section. This move is part of the company’s critical strategy to concentrate on its core business, the Clear Loop hosting, and arrangement service. The company’s corporate division specializes in providing digital asset custody and infrastructure solutions to Banks and other financial institutions. Copper’s aim is to strengthen its position in the digital asset custody market by offering more affordable, faster, and more liquid settlements through its Clear Loop product.

Sources indicate that some Copper employees have already received layoff letters. However, it’s too early to infer how many staff members will be affected by this change. As of now, Copper did not release any official statement regarding the matter.

Closing down the software and infrastructure development section might seem like a surprising move, but it’s an essential decision for Copper’s future. The Clear Loop product has rapidly become a viable potential alternative to traditional settlement systems, such as SWIFT, by enabling faster and more efficient transfers of assets linked to blockchain. The market demands for digital asset custody are soaring, and Copper aims to take advantage of the trend. The company reckons that it could improve its Clear Loop product significantly by focusing all its resources and unwavering dedication towards it.

In conclusion, Copper’s decision to shut down its software and infrastructure development division demonstrates the company’s agile strategy to strengthen its position in the digital asset custody market. The move enables Copper to allocate its resources and workforce efficiently and concentrate on providing its clients with a more affordable, faster, and liquid settlement service through its Clear Loop product. Although employees can outnumbered by the closure of the software section, Copper’s decision will affect the company’s financial performance positively in the long run by simplifying its operations, increasing profitability and affirming the market-leading position in the digital asset custody segment.

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