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World's Biggest Interdealer Broker to Launch Cryptocurrency Trading Platform with Fidelity

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Tue, 29/06/2021 - 7:58
World's Biggest Interdealer Broker to Launch Cryptocurrency Trading Platform with Fidelity
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Brokerage giant TP ICAP will launch a cryptocurrency trading platform in partnership with Fidelity Investments and Standard Chartered later this year, Reuters reports.   

It is currently awaiting approval from the Financial Conduct Authority (FCA).

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The new platform will carry out trade execution and settlement separately, thus reducing risks for institutional players.  

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Duncan Trenholme, co-head of digital asset markets at ICAP, claims that investor interest in the fledgling asset class has “exploded”:  

Investor interest in this new asset class has exploded dramatically in the last six to eight months.    

From the get-go, Bitcoin will be the only available cryptocurrency. Ether, the second-largest crypto, will be added after the launch.

Earlier this month, Standard Chartered announced that it was intending to roll out its own crypto exchange and brokerage service.

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