London-based crypto custodian Copper has received regulatory approval from the Financial Services Regulatory Authority (FSRA) in Abu Dhabi to offer custody services for tokenized money market funds. This means that Copper's clients can now use money market fund tokens as collateral in derivatives trades. Copper has also formed partnerships with key participants in tokenization, including Securitize, Franklin Templeton, Ondo, and Hashnote. Tokenized money market funds, such as Blackrock's BUIDL, allow for the representation of real-world assets on blockchains. The tokenized Treasury market has grown from $780 million to around $2.3 billion this year. Copper's former CEO, Dmitry Tokarev, has been replaced by Amar Kuchinad.



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