Standard Chartered, Fidelity, TP ICAP Launches Cryptocurrency Trading Platform – News Bitcoin News

Fidelity, Standard Chartered Bank and TP ICAP work together to launch a cryptocurrency trading platform. It will provide a marketplace for spot crypto trading and provide “connectivity and post-trade infrastructure into a network of digital asset custodians”.

  • TP ICAP, a leading provider of market infrastructure, announced on Tuesday the launch of a cryptocurrency trading platform in partnership with Fidelity Digital Assets, Zodia Custody and Flow Traders.
  • The new platform is subject to registration with the UK Financial Conduct Authority (FCA).
  • It “will provide a wholesale electronic marketplace for spot cryptoasset trading, including Bitcoin and Ethereum, as well as providing connectivity and post-trade infrastructure to a network of digital asset custodians,” the announcement said.
  • TP ICAP launched its digital asset business in 2019, which enables clients to trade crypto derivative products.
  • Simon Forster, Co-Head of Digital Assets at TP ICAP, commented:

Customer demand for trading spot cryptoassets is substantial and growing, with interest coming from our traditional customer base in the various asset classes in which we operate.

  • Flow Traders, who have been providing liquidity to crypto markets since 2016, will be one of the first liquidity providers on this new platform.

  • Zodia Custody is an institutional digital asset custodian created by Standard Chartered Bank to meet the need for a digital asset custodian that really understands custody.
  • The announcement notes:

The platform has already started onboarding customers and will be launched in the second half of the year.

What do you think of the collaboration between Standard Chartered Bank, Fidelity and TP ICAP to launch a crypto trading platform? Let us know in the comment section below.

Photo credits: Shutterstock, Pixabay, Wiki Commons

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