TP ICAP, Fidelity and Standard Chartered are Launching Crypto Trading Platform

TP ICAP (OTC: TCAPF), the world’s largest broker, is teaming up with the British bank Standard Chartered’s (OTC: SCBFF) digital unit and Fidelity Investments to launch a trading platform focused on cryptocurrencies, it is announced today.

The trio is already briefing institutional investors about the new service that is likely to be launched in the coming months. Initially, investors will be able to trade Bitcoin (BTC) only before Ethereum (ETH) is added later.

This way, institutional investors will have an option to trade crypto assets in the same way as it is the case with stocks, bonds, commodities, forex, etc.

"Investor interest in this new asset class has exploded dramatically in the last six to eight months," Duncan Trenholme, co-head of digital assets at TP ICAP, told Reuters.

"In 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."

Earlier this month, Standard Chartered’s joint venture BC Technology Group announced its plans to set up a cryptocurrency brokerage and exchange platform in the UK and Europe. A new service will allow institutional traders to trade major cryptocurrencies.

"We have a strong conviction that digital assets are here to stay and will be adopted by the institutional market as a highly relevant asset class," said Alex Manson of SC Ventures.

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