Copper Technologies, the Barclays-backed crypto custody firm, has withdrawn its application for a UK crypto license. 🇬🇧

- Copper will focus on offshore centres under new CEO Amar Kuchinad.

- The company, which received millions in investment from Barclays, failed to register in the UK in 2022.

- Copper is seeking approval in Switzerland, Hong Kong and Abu Dhabi.

FCA reports nearly 90% of crypto license applications rejected or withdrawn in 2024. 🤔

What do you think of Copper’s new strategy? Share your thoughts! 👇