The bank and the interdealer broker will launch new connections between their digital asset offerings.
The London-based cross-border bank Standard Chartered and interdealer TP ICAP report that they plan to connect their digital assets offerings.
The new collaboration will help common clients access Standard Chartered’s digital asset custody product and TP ICAP’s Fusion Digital Assets, a U.K.-based spot crypto-asset exchange, according to the announcement.
The interdealer broker operates TP ICAP E&C Ltd., a crypto-asset firm registered with U.K. regulator the Financial Conduct Authority (FCA). With the new partnership, Standard Chartered’s custody clients will be able to access TP ICAP’s pricing and liquidity in digital assets such as Bitcoin and Ethereum via TP ICAP’s wholesale exchange, officials say.
The agreement “will provide TP ICAP clients with connectivity to the digital asset custody service from Standard Chartered, expanding the network of custodians connected to Fusion Digital Assets,” officials say.
“This collaboration represents a significant development in the digital asset landscape by providing institutional traders and investors with a seamless, secure, and regulated environment for their digital asset activities,” says Margaret Harwood-Jones, global head of financing and securities services, Standard Chartered, in a prepared statement.
“Clients have been clear with us since the creation of Fusion Digital Assets that they wanted us to build an institutional-quality environment bringing together our expertise in operating wholesale markets with trusted and robust custodial offerings,” says Duncan Trenholme, managing director and global co-head of digital assets, TP ICAP, in a statement. Also based in London, TP ICAP offers brokerage services for wholesale financial, energy, and commodities markets, and across major asset classes. The firm also offers market infrastructure and data solutions, officials say.
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