Fidelity, Standard Chartered Bank and TP ICAP are cooperating to launch a cryptocurrency trading platform. It will feature the spot cryptocurrency trading market and provide a “digital asset custodian network with connectivity and post-transaction infrastructure.”
- Leading market infrastructure provider TP ICAP announced on Tuesday that it will launch a cryptocurrency trading platform in cooperation with Fidelity Digital Assets, Zodia Custody and Flow Traders.
- The new platform needs to be registered with the UK Financial Conduct Authority (FCA).
- The announcement details that it “will have a wholesale electronic market for spot encrypted asset transactions, including Bitcoin and Ethereum, and provide a network of digital asset custodians with connectivity and post-transaction infrastructure.”
- TP ICAP launched its digital asset business in 2019, enabling customers to trade encrypted derivative products.
- Simon Forster, Co-Head of Digital Assets at TP ICAP, commented:
Customers have huge and growing demand for trading spot crypto assets, and their interest comes from the traditional customer base of the different asset classes we operate.
- Flow Traders, which has been providing liquidity to the crypto market since 2016, will become one of the initial liquidity providers on this new platform.
- Zodia Custody is a digital asset custodian for institutional investors. It was established by Standard Chartered Bank to address the need for digital asset custodians that truly understand custody.
- The announcement stated:
The platform has already begun to attract customers and will be introduced to the market in the second half of this year.
What do you think of Standard Chartered Bank, Fidelity and TP ICAP cooperating to launch an encrypted trading platform? Let us know in the comments section below.
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