TP ICAP, which is a largest broker, is ready to expand their services with the launch of their own Cryptocurrency trading platform.
According to reports, TP ICAP did a partnership with Fidelity and Standard Chartered. They are ready to launch their own Cryptocurrency trading exchange service.
There are no official dates to launch but it is expected that they can launch by the end of 2021.
Right now they are waiting for the official approval from FCA ( financial conducting Authority).
TP ICAP claimed that their main aim was to take trade and settlement both separate from their platform. So that they can lower the risk by institution players.
“Investor interest in this new asset class has exploded dramatically in the last six to eight months”
Duncan Trenholme, who is co-head of ICAP, said that people in the last 7-8 months showed an exploding interest in Cryptocurrency.
And also they claimed that, in the initial phase they will launch their platform for bitcoin only trading. Later they will introduce Ethereum coins to trade.
Actually the main reason why they don’t want to introduce Bitcoin and Ethereum like assets together is because they want to see reviews and responses by the people to use their services and then further they will follow interest of people and suggestions to improve and they will further add other Cryptocurrencies for trading.
Before this official announcement by ICAP, they indicated last month in advance that they will launch their own Cryptocurrency exchange and also they will roll out their existing brokerage service with it.