{"id":286389,"date":"2021-06-29T12:01:53","date_gmt":"2021-06-29T09:01:53","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/icap-to-launch-bitcoin-exchange-with-fidelity-standard-chartered\/"},"modified":"2021-06-29T12:01:53","modified_gmt":"2021-06-29T09:01:53","slug":"icap-to-launch-bitcoin-exchange-with-fidelity-standard-chartered","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/icap-to-launch-bitcoin-exchange-with-fidelity-standard-chartered\/","title":{"rendered":"# ICAP to launch Bitcoin exchange with Fidelity, Standard Chartered"},"content":{"rendered":"

“# ICAP to launch Bitcoin exchange with Fidelity, Standard Chartered <\/strong>”
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Major global interdealer broker TP ICAP is launching a cryptocurrency trading platform with Fidelity Investments and British banking giant Standard Chartered.<\/p>\n

TP ICAP\u2019s upcoming crypto exchange is scheduled for launch in the second half of 2021 and will initially offer trading exclusively for Bitcoin (BTC), the world\u2019s largest cryptocurrency, Reuters reported<\/a> Tuesday. Other digital assets like Ether (ETH) will be added at a later stage. <\/p>\n

Unlike the majority of typical crypto exchanges, TP ICAP\u2019s crypto trading platform will offer post-trade infrastructure with a network of digital asset custodians as well as separate execution and settlement, intending to cut credit risks. The platform will use Standard Chartered\u2019s digital assets custody unit known as Zodia custody, an institutional-grade crypto custody solution launched in December 2020. Amsterdam-based market maker Flow Traders will provide liquidity to the platform.<\/p>\n

According to the report, the platform is awaiting app<\/a>roval from the United Kingdom\u2019s financial regulator, the Financial Conduct Authority. Neither Standard Chartered nor Fidelity Investments have invested in the platform, ICAP told reporters.<\/p>\n

Duncan Trenholme, ICAP\u2019s co-head of digital assets, said that investor demand for crypto as a new asset class has exploded over the past six to eight months. \u201cIn most of our conversations with clients, they want a separation of custodial roles from execution capabilities which is opposite to the models that exist currently,\u201d he noted.<\/p>\n

Related: <\/em><\/strong>Standard Chartered plans European crypto exchange after HSBC says ‘no’ to industry<\/em><\/strong><\/p>\n

TP ICAP has been actively moving into crypto in recent years, introducing a number of crypto-related services. In June 2019, ICAP entered the crypto derivatives market, allowing its customers to buy or sell\u00a0Chicago Mercantile Exchange\u2019s Bitcoin futures. The company was also planning to add support for Bitcoin forward contracts settlement.<\/p>\n