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Crypto Company Copper Appoints Ex-Goldman Sachs Executive as CEO to Oversee Strategic Transformation
Crypto custodian Copper has appointed Amar Kuchinad, a previous managing director at Goldman Sachs, as its new group CEO, succeeding Dmitry Tokarev. The firm intends to draw in more conventional financial institutions and broaden its reach into the US market.
Kuchinad will concentrate on enhancing Copper’s presence in the US while capitalizing on recent regulatory developments in Hong Kong and Abu Dhabi, the company stated in a release on Monday.
In the meantime, Tokarev has resigned from his CEO position after seven years. He will continue to play a significant role as a founder director on the board and a major strategic shareholder.
We are excited to announce the appointment of Amar Kuchinad as the new Global CEO of Copper, succeeding the company’s founder Dmitry Tokarev.
Over the past seven years, @tokarev_d has not only established Copper from the ground up but has also set a high benchmark for innovation in… pic.twitter.com/iEbbWMQ2zu— Copper.co (@CopperHQ) October 14, 2024
Amar Kuchinad Brings Goldman and SEC Expertise to Copper
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He commenced his career at Credit Suisse. Subsequently, he became Managing Director at Goldman Sachs, where he oversaw the US Portfolio Credit Trading division. He then worked as Senior Policy Advisor at the US SEC. Following that, he founded Electronifie to modernize bond trading through digital and systemic advancements.
“We explored all avenues to identify the right candidate for this critically important role, and I am confident that Amar is perfectly positioned to ensure Copper’s ongoing long-term success,” Tokarev remarked.
Copper Targets TradFi Sector as Interest in Blockchain Rises
Copper is dedicated to providing secure infrastructure solutions specifically designed for digital asset trading and custody within the blockchain industry. Its core strength lies in developing a platform that enables the secure storage, trading, and management of digital assets.
Copper is establishing itself as a vital partner for traditional financial institutions investigating blockchain technology.
Although the sector has been hesitant to adopt rapid changes, interest in blockchain is increasing due to its potential to enhance trade settlement, lower costs, and improve security through immutable records. A prior licensing agreement with State Street was terminated in March of the previous year.
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