Dmitry Tokarev trained in risk management and financial engineering at Imperial College London. He began as a quantitative analyst and later became CTO and partner at Dolfin Asset Management in Mayfair.
In 2018 he founded Copper in London. Institutions wanted crypto but could not store it securely and still trade with speed and control. Copper built custody, prime brokerage and settlement for them in one place.
Dawn Capital and Target Global co-led its Series B. In 2021 the company sought up to $500 million at about $2.5bn. In October 2022 it closed a Series C at about $2bn, with Barclays among the investors. Rivals include Anchorage Digital, BitGo, Fireblocks and Coinbase Custody.
Amar Kuchinad, formerly of Goldman Sachs, became CEO in October 2024 and Tokarev stayed as a founder director and shareholder. In May 2026 Cantor Fitzgerald was hired to run a sale of the company, marketed at $500 million.