Barclays Bank Buys Stake In Crypto Firm Copper

British bank Barclays PLC (BCS) has taken a stake in Copper, a cryptocurrency firm that provides custody and settlement services to institutional investors.

Barclays, which is one of the biggest banks in England with nearly $600 billion U.S. of assets under management, is among several investors that joined the latest funding round for Copper.

According to media reports, Barclays invested several million dollars into Copper, though the exact size of its stake in the cryptocurrency company has not been made public.

Some analysts question the timing of Barclays investment in Copper, coming as it does with cryptocurrency prices crashing and multiple firms filing for bankruptcy or ceasing operations.

Barclays stock is down 28% year-to-date at $7.62 U.S. per share.