TP ICAP Gains UK Registration for Institutional Crypto Exchange

It will only offer services to institutions.

TP ICAP’s wholesale exchange for crypto assets, Fusion Digital Assets, has registered with the Financial Conduct Authority (FCA), allowing the platform to operate in the United Kingdom.

Announced on Thursday, TP ICAP is yet to launch its crypto exchange services though it confirmed the upcoming services in mid-2021. It will cater to institutional market participants only and will be operated by Tullett Prebon (Europe) Limited.

“Despite growing demand from our traditional client base, until now, the wholesale digital assets market has lacked the credible infrastructure and assurance necessary for them to allocate capital. Fusion Digital Assets addresses this need,” said TP ICAP Group’s Co-Head of Digital Assets, Duncan Trenholme.

“Its distinct attributes – namely a segregated model, TP ICAP’s track record of operating venues, and our means to distribute – are well recognized and trusted by institutional market participants.”