Barclays (NYSE:BCS) is expected to buy a stake in Copper, a cryptocurrency-focused firm providing custody services to institutional investors, according to a report by Sky News released July 25.The U.K. lender is joining a slew of investors in a financing round for Copper, with former Chancellor Philip Hammond among the crypto firms' advisers, Sky News reported.Moreover, Barclays (BCS) was said to invest "millions of dollars" in Copper's funding round, which is anticipated to be finalized in the matter of days.Copper did not immediately respond to a request for comment by Seeking Alpha.The move comes despite a challenging backdrop in the crypto space, ranging from systemic liquidity issues to broad recessions fears.In mid-May, Goldman Sachs and Barclays invested in crypto platform Elwood Technologies.
