TP ICAP Plans to Join Fidelity, Standard Chartered to Launch Crypto-Trading Platform: Report

The platform will launch later this year, offering bitcoin trading initially with ether to be added thereafter.

Jun 29, 2021 at 9:00 a.m. UTC

Updated Sep 14, 2021 at 1:18 p.m. UTC

Interdealer broker TP ICAP is launching a crypto-trading platform alongside Fidelity Investments and Standard Chartered, Reuters reported.

The platform, which is awaiting approval by the U.K.'s financial regulator, will launch later this year, offering bitcoin trading initially with ether to be added later.
The venture's aim is to make trading of crypto more like that of stocks, bonds and foreign exchange for institutional investors, Reuters reported Tuesday.
This will be achieved by offering a post-trade infrastructure and separate execution and settlement, something that is the "opposite to the models that exist currently," according to Duncan Trenholme, co-head of digital assets at TP ICAP.
Standard Chartered earlier this month announced a venture to a create a digital-asset brokerage and exchange platform alongside digital-asset platform OSL, demonstrating increasing interest in the crypto space by the bank.

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