TP ICAP to offer cryptocurrency custody in partnership with BitGo and Komainu

British interdealer broker TP ICAP has included BitGo and Komainu in the network of custodian partners for its forthcoming digital assets platform.

In the OTC trading platform project, are already participating Fidelity Digital Assets and Zodia Custody from Standard Chartered. Flow Traders, Hudson River Trading, Susquehanna, Jane Street and Virtu Financial will act as market makers.

Expanding the network of custodian partners will give clients greater flexibility and reinforce the segregated custody model.

Platform users will be able to execute spot trades in Bitcoin and Ethereum. The infrastructure will also include post-trade processing with straight-through processing (STP) and payment netting services for completed trades.

Launch timelines depend on approval from the UK Financial Conduct Authority (FCA).

Founded in 2017, TP ICAP supports operations among hedge funds, investment banks and other large financial institutions.

Since 2019, the company has acted as an intermediary in cryptocurrency derivatives transactions.

Back in 2021, BitGo provided clients with the ability to earn income in Bitcoin through Stacks (STX), the native token of the Blockstack project.

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