Encryption hosting company Copper will shut down its software and infrastructure development department

It is reported that Copper, a British encryption and hosting company, will close its software and infrastructure development department to focus on the Clear Loop hosting and settlement business. Copper’s corporate division focuses on providing digital asset custody and infrastructure solutions for banks and funds. Sources say layoffs have begun, but it is too early to say how many people will be affected.

Interpretation of this information:

The news of Copper closing its software and infrastructure development department has caught many people off-guard. The decision to shift focus to the Clear Loop hosting and settlement business might be a strong indicator of where the technology industry is heading. The move to digitalization has left traditional businesses scrambling for relevant technology and tools to update their strategies. This decision by Copper might be the right step forward to being relevant and “in-tune” with their clients’ needs.

Copper’s traditional operations cater to providing digital asset custody and infrastructure solutions for banks and funds. Since the core of their clientele is focused on asset management, it is imperative that they stay on top of the technological advancements. Clear Loop hosting and settlement business will allow them to cater to every requirement needed for the asset management business. Copper can provide end-to-end solutions to cater to new avenues that have emerged due to technological advancements.

Unfortunately, these changes have resulted in layoffs, and it is too early to say how many people will be affected. However, in today’s digital era, technological changes are inevitable. It is a matter of time before these changes become more common in the corporate world. These occurrences require individuals to adapt and change with the times. After all, there is a need to embrace change to remain competitive.

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