TP ICAP and Standard Chartered team up to boost institutional crypto trading
TP ICAP has partnered with Standard Chartered to expand its digital asset services through Fusion Digital Assets. The collaboration allows institutional clients to access secure custody and settlement for blockchain-based assets. Both firms aim to strengthen their presence in the growing crypto market.
Standard Chartered will act as the digital asset custodian and settlement agent for TP ICAP's Fusion Digital Assets platform. This move enables TP ICAP to settle blockchain-based transactions through its own accounts for the first time. Duncan Trenholme, Managing Director and Global Co-Head of Digital Assets at TP ICAP, highlighted the significance of this development.
The partnership also supports TP ICAP's expansion of matched principal trading activities. Clients of both companies can now benefit from Standard Chartered's regulated custody solution alongside TP ICAP's market infrastructure. Margaret Harwood-Jones, Global Head of Financing & Securities Services at Standard Chartered, expressed satisfaction with the deepened collaboration.
Fusion Digital Assets, operated by TP ICAP E&C Limited, remains registered with the Financial Conduct Authority (FCA) for crypto asset activities. While details on specific new asset types or protocols remain undisclosed, the partnership focuses on advancing institutional adoption of digital assets.
The agreement combines TP ICAP's trading infrastructure with Standard Chartered's regulated digital asset services. Institutional clients gain access to a more integrated system for managing blockchain-based transactions. The partnership marks a step toward broader acceptance of digital assets in traditional finance.
