TP ICAP gets Fusions Digital Assets Regulator

TP ICAP Group is able to register as a digital asset exchange provider with the financial regulator of the UK through its Fusions Digital Assets marketplace, the world's largest inter-dealer broker said on Thursday.

The company, which offers broking services across commodities, credit, equities, FX asset classes, added that the platform, which is only used for institutional investors, will be operated by its unit Tullett Prebon Ltd.

The news comes weeks after Britain's Financial Authority FCA called for lawmakers to show their support for its decision not to grant licences to scores of FTX, which recently collapsed.

TP ICAP launched its wholesale trading platform for cryptocurrencies in June of last year, pending registration approval with the FCA.

Duncan Trenholme, co-head of digital assets at TP ICAP Group, said that the wholesale digital assets market has lacked the credible infrastructure and assurance necessary to allocate capital.

Britain will have the power to regulate all cryptocurrencies under a proposal by the UK financial services minister to add to a draft law before Parliament that will almost certainly pass, according to a report from October.