TP ICAP to launch crypto trading platform for institutional investors

British interdealer broker TP ICAP has announced the launch of a cryptocurrency trading platform for institutional investors, reports The Block.

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Fidelity Digital Assets, Standard Chartered’s Zodia Custody, and liquidity provider Flow Traders participated in developing the platform. The launch is planned for the end of 2021 after registration with the UK’s Financial Conduct Authority.

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“Our partnership and the new platform are a natural evolution of market structure that will make digital assets like Bitcoin more accessible to the wholesale market,” said Simon Forster, co-head of TP ICAP’s Digital Assets division.

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The platform will offer Bitcoin and Ethereum.

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Since 2019, TP ICAP has acted as an intermediary in cryptocurrency derivatives trading.

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In April 2021, Fidelity Investments’ head of digital assets Tom Jessop suggested that Bitcoin has reached a tipping point in institutional adoption.

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