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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.
Updated May 9, 2023, 3:21 a.m. Published Jun 29, 2021, 9:00 a.m.
Interdealer broker TP ICAP is launching a crypto-trading platform alongside Fidelity Investments and Standard Chartered, Reuters reported.
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- 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.
Read more: Fidelity International Invests $6M in Firm Behind Hong Kong’s OSL Crypto Exchange
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The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq.
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- French banking group BPCE will start offering crypto trading services to 2 million retail customers through its Banque Populaire and Caisse d’Épargne apps, with plans to expand to 12 million customers by 2026.
- The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq, with a €2.99 monthly fee and 1.5% transaction commission.
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