# Exclusive: TP ICAP to launch crypto trading platform with Fidelity, Standard Chartered Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2021-07-05 Category: INVESTING Category URL: https://financedigest.com/category/investing Meta Title: TP ICAP to Launch Cryptocurrency Trading Platform with Meta Description: World's largest interdealer broker ventures into crypto sector with major partners for institutional investors, offering bitcoin and ether trading. URL: https://financedigest.com/exclusive-tp-icap-to-launch-crypto-trading-platform-with-fidelity-standard-charteredhtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/2021-06-29t071507z1lynxnpeh5s0bmrtroptp4crypto-currency-fintech-tp-icap-1736838229747-compressed.jpg) By Saikat Chatterjee and Tom Wilson LONDON (Reuters) – TP ICAP, the world’s biggest interdealer broker, is launching a cryptocurrency trading platform with Fidelity Investments and Standard Chartered’s digital assets custody unit, the consortium said on Tuesday. Institutional investors have warmed to the crypto sector this year and the platform, which is due to launch in the second half of the year, will initially allow them to trade bitcoin, with second-largest token ether to be added later. TP ICAP, along with Fidelity Digital Assets and Zodia Custody, launched by the venture capital arm of [Standard Chartered](https://www.financedigest.com/first-abu-dhabi-bank-reiterates-not-eyeing-offer-for-standard-chartered.html "First Abu Dhabi Bank reiterates not eyeing offer for Standard Chartered") and Northern Trust in December, is seeking to make crypto trading akin to that of traditional assets like stocks, bonds and foreign exchange. The [platform will offer post-trade infrastructure with a network of digital](https://www.financedigest.com/seenthis-launches-creative-platform-to-boost-performance-and-reduce-co2-emissions-in-digital-advertising.html "SeenThis launches Creative Platform to boost performance and reduce CO2 emissions in digital advertising") asset custodians, the consortium said in a statement, and separate execution and settlement, something widely seen as key to greater involvement of larger risk-averse investors in the emerging crypto market. At present, crypto execution and custody services are usually rolled up in one venue, increasing [credit risks](https://www.financedigest.com/jaywing-releases-horizon-a-new-ifrs-9-modelling-solution-that-encapsulates-its-extensive-credit-risk-expertise.html "Jaywing releases Horizon, a new IFRS 9 modelling solution that encapsulates its extensive credit risk expertise"). Amsterdam-based Flow Traders will [provide liquidity to the platform](https://www.financedigest.com/newly-launched-quintessential-to-provide-prestige-living-management-platform-for-prs.html "Newly launched Quintessential to provide ‘prestige living’ management platform for PRS"). TP ICAP has broadened its footprint in global capital markets by [offering new data and analytics](https://www.financedigest.com/oracle-offers-its-mysql-heatwave-database-and-analytics-on-amazons-cloud.html "Oracle offers its MySQL HeatWave database and analytics on Amazon’s cloud") services and rolling out new products. Dedicated crypto [funds have seen record flows this year but major banks offering access must balance growing](https://www.financedigest.com/55-of-uk-smes-unable-to-access-all-funding-needed-to-grow.html "55% of UK SMEs unable to access all funding needed to grow") interest with the compliance headaches long associated with the cryptocurrency sector and increasing scrutiny by regulators. Still, the move is the latest endorsement of the sector by Standard Chartered, whose venture capital unit said earlier this month it will set up a separate [crypto brokerage and exchange platform](https://www.financedigest.com/meta-to-wind-down-nfts-on-platforms-amid-crypto-bust.html "Meta to wind down NFTs on platforms amid crypto bust") in Britain and Europe, with Hong Kong’s BC Technology Group. [“Investor interest in this new asset class has exploded dramatically in the last six to eight months,”](https://www.financedigest.com/6-months-to-go-until-brexit-and-investor-sentiment-remains-bold.html "6 months to go until Brexit and investor sentiment remains bold") 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](https://www.financedigest.com/exotix-draws-sberbanks-us-chief-executive-in-triple-hire-to-extend-global-capabilities.html "Exotix Draws Sberbank’s US Chief Executive in Triple Hire to Extend Global Capabilities") which is opposite to the models that exist currently. TP ICAP launched [bitcoin futures and options](https://www.financedigest.com/cryptoverse-bitcoin-traders-like-their-options.html "Cryptoverse: Bitcoin traders like their options") on CME in 2019 and now plans to launch other derivative products including total return swaps and non-deliverable forwards. The [platform is awaiting approval by Britain’s financial](https://www.financedigest.com/make-way-for-the-rise-of-the-finance-super-apps-consolidation-of-financial-digitisation-tools-platforms.html "Make way for the rise of the Finance Super Apps – Consolidation of Financial Digitisation Tools & Platforms") regulator. Neither [Standard Chartered](https://www.financedigest.com/bitcoin-could-hit-100000-by-end-2024-standard-chartered-says.html "Bitcoin could hit 0,000 by end-2024, Standard Chartered says") nor Fidelity Investments have invested in the platform, TP ICAP said. (This story is refiled to add dropped letters to name in headline, 9th and 11th paragraphs) (Reporting by Saikat Chatterjee and Tom Wilson; Editing by Rachel Armstrong and Kirsten Donovan) --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---