TP ICAP plans to join Fidelity, standard chartered to launch crypto-trading platform

CoinDesk Analysis Team CoinDesk

Interdealer broker TP ICAP is launching a crypto-trading platform alongside Fidelity Investments and Standard Chartered, Reuters reported.

The platform, which is awaiting approval by the U.K.'s financial regulator, will launch later this year, offering bitcoin (BTC, +3.41%) trading initially with ether (ETH, +7.54%) to be added later.
The venture's aim is to make trading of crypto more like that of stocks, bonds, and foreign exchange for institutional investors, Reuters reported Tuesday.
This will be achieved by offering a post-trade infrastructure and separate execution and settlement, something that is the "opposite to the models that exist currently," according to Duncan Trenholme, co-head of digital assets at TP ICAP.
Standard Chartered earlier this month announced a venture to a create a digital-asset brokerage and exchange platform alongside digital-asset platform OSL, demonstrating increasing interest in the crypto space by the bank.

Author

CoinDesk Analysis Team

CoinDesk

CoinDesk is the media platform for the next generation of investors exploring how cryptocurrencies and digital assets are contributing to the evolution of the global financial system.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

BNB Price Forecast: BNB slips below $855 as bearish on-chain signals and momentum indicators turn negative

BNB, formerly known as Binance Coin, continues to trade down around $855 at the time of writing on Tuesday, after a slight decline the previous day. Bearish sentiment further strengthens as BNB’s on-chain and derivatives data show rising retail activity.

Top Crypto Losers: Aster, Midnight, and Ethena extend losses as selling pressure mounts

Aster, Midnight, and Ethena are the altcoins with the most losses over the last 24 hours, as the broader cryptocurrency market weakens amid Bitcoin dropping below $86,000. ASTER, NIGHT, and ENA risk further losses as selling pressure mounts and risk-off sentiment spreads across the crypto market.

Ethereum Price Forecast: BitMine acquires 102,259 ETH as price plunges 5%

Ethereum (ETH) treasury company BitMine Immersion scaled up its digital asset stash last week after acquiring 102,259 ETH since its last update. The purchase has increased the company's holdings to 3.96 million ETH, worth about $11.82 billion at the time of publication.