Crypto Exchange Copper Appoints Philip Hammond as Chairman

Former UK Chancellor Philp Hammond has been named chairman of the Mayfair-based Copper Exchange.

Hammond, who had served as a senior adviser to the firm since October, takes office on January 26, the FinancialTimes reported.

In an interview with Financial news in October, the politician – who served as chancellor between 2016 and 2019 – said his pivot to the world of digital assets was tied to what a post-Brexit world might look like.

READ Financial News will publish the list of the most influential cryptocurrencies on January 30

“I have always thought that the solution to this conundrum is that London, post-Brexit, must be prepared to take a little more risk, to be a leader in adopting new technologies, new products, new ideas to ensure that we have something to offer that keeps our EU partners still engaged with London – even if they would like to split up and do their own thing – and gives us a basis for asserting that which London will remain a global financial center,” he told FN.

READ Former Chancellor Philip Hammond explains why banks love blockchain and where Truss went wrong

More recently, he came back from Davoswhere he was to appear on multiple panels as part of efforts to continue lobbying for support for the recession-plagued sector.

In October he said FN he thought the crypto winter had been “beneficial” for institutional adoption of the asset class.

“I hope with [Rishi Sunak] as prime minister we will see the UK become the recognized leader in this space,” he added at the time.

Copper has been contacted for comment.

To contact the author of this story with comments or news, email Penny Sukhraj


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