Standard Chartered Named Custodian For TP ICAP's Fusion Digital Assets

"We are pleased to deepen our collaboration with TP ICAP, reinforcing our shared vision of bridging traditional and digital finance. Our custody and settlement solutions will enable TP ICAP to scale its matched principal activity securely and efficiently, meeting growing institutional demand."

"The model eliminates prefunding requirements for clients, allows settlement post-execution, and uses multilateral netting to reduce gross settlement volumes, improving operational efficiency."

"Fusion Digital Assets, operated by TP ICAP E&C Limited and registered with the Financial Conduct Authority for crypto-asset activities, allows institutional clients to trade digital assets on a UK-regulated exchange."

Standard Chartered has been appointed as the digital asset custodian and settlement agent for TP ICAP's Fusion Digital Assets platform, expanding their collaboration announced in October 2024. Fusion Digital Assets, a UK-regulated exchange operated by TP ICAP E&C Limited, enables institutional clients to trade digital assets. The appointment coincides with Fusion's transition to a matched-principal model where TP ICAP acts as counterparty to both sides of trades. This structure eliminates client prefunding requirements, allows post-execution settlement, and uses multilateral netting to reduce settlement volumes. The custody arrangement remains agnostic, allowing counterparties to use their preferred custodian. Standard Chartered's regulated custody services integrate with Fusion's trading infrastructure to meet growing institutional demand for digital asset trading.

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