TradFi Giant TP ICAP Gains UK Crypto License
The world’s largest interdealer-broker is jumping into the crypto market. TP ICAP, an international brokerage firm, has registered as a digital asset provider with the Financial Conduct Authority in the U.K., and plans to introduce its own marketplace called Fusion Digital Assets in November 2018.
A giant in the traditional finance industry, Fidelity Digital Assets can now provide crypto trading services to wholesale markets. By collaborating with them, IEX will enable matching orders and executing spot crypto trades.
Until now, the wholesale digital-asset market lacked a strong infrastructure. However, we are pleased to announce the launch of Digital Broadside, which is set to provide a credible infrastructure and assurance for financial market players. Over time, this will lead to the tokenization of traditional assets classes.
This month, Tullett Prebon (Europe) Ltd., who operates in the EU, became a member of the FCA’s crypto company register. In other words, they are now compliant with anti-money-laundering regulations, which are the prerequisite to being able to operate in the crypto industry. The policy for crypto authorizations is still being considered by the UK Treasury though.
CoinDesk reported that in January of this year, TP ICAP told them that it was offering clients such as banks the opportunity to trade crypto-linked products on cryptocurrency exchanges.
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