Copper, the digital asset infrastructure company best known for its ClearLoop settlement network, is exploring a sale for approximately $500 million, but received bids have fallen short of that asking price. The firm, which exited its enterprise custody business in 2023 to focus solely on ClearLoop, has hired Cantor Fitzgerald to run the sale process after considering an IPO as recently as January 2026. ClearLoop processes over $50 billion in monthly notional volume and connects more than 1,000 counterparties through its delivery-versus-payment settlement system. This valuation gap reflects a broader challenge in the digital asset infrastructure sector where impressive volumes do not necessarily translate into substantial revenues. If no buyer meets the company’s price expectations, Copper may need to return to the drawing board, potentially revisiting an IPO that would likely come with a discount.
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