Invezz.com – Barclays-backed cryptocurrency custody firm Technologies is scaling back its efforts to secure an operating license in the United Kingdom (TADAWUL:) to focus elsewhere.
According to a December 20 Bloomberg report, Copper has withdrawn its application to be licensed and regulated under the UK’s Financial Conduct Authority (FCA).
The London-based firm will focus on expanding to other global hubs despite being one of the largest crypto-based businesses in the UK.
The new strategy will be spearheaded by the new CEO, Amar Kuchinad, who took over the role in October after former CEO and founder Dmitry Tokarev stepped down.
Kuchinad, who previously served as a managing director at Goldman Sachs (NYSE:) and a senior policy advisor with the United States Securities and Exchange Commission, said that refining the company’s “global growth strategy”…
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