TP ICAP's Wholesale Cryptoassets Marketplace Completes Registeration in UK

​TP ICAP, a world leading provider of market infrastructure, announced that Fusion Digital Assets, its wholesale marketplace for spot cryptoassets, has successfully registered as a cryptoasset exchange provider with the UK's financial regulator, Financial Conduct Authority (FCA).

The innovative trading venue, which is for institutional market participants only, will be operated by Tullett Prebon (Europe) Limited.

The platform combines TP ICAP's established expertise in operating venues and organising execution, with Fidelity Digital AssetsSM institutional-grade custodial capabilities, and liquidity from proven market makers. In addition, Fusion Digital Assets will leverage the extensive distribution capabilities of the TP ICAP Group.

TP ICAP's Co-Head of Digital Assets, Duncan Trenholme, believed that Fusion Digital Assets will help them well to grasp the opportunities that the change of tokenisation of traditional asset classes. 

He said: "Despite growing demand from our traditional client base, until now the wholesale digital assets market has lacked the credible infrastructure and assurance necessary for them to allocate capital. Fusion Digital Assets addresses this need. Its distinct attributes – namely a segregated model, TP ICAP's track record of operating venues, and our means to distribute – are well recognised and trusted by institutional market participants."

TP ICAP's expansion is supported by its stronge financial performance. Fazzaco reported that its total group revenue reached £1,588 million in Q3 2022​, increasing 10% on a yearly basis.