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TP ICAP Aims to Expand Digital Asset Business
- TP ICAP is expanding its digital asset business in the US and Asia, aiming to extend Fusion Digital Assets' operating hours.
- The approval of spot bitcoin ETFs in the US led to significant inflows, with BlackRock adding bitcoin ETFs to its model portfolio.
- TP ICAP acts as a bridge between traditional finance and crypto, attracting multi-strategy hedge funds for basis trading.
- The firm's broking business collaborates with other TP ICAP desks, working on derivatives and regulated exchange offerings.
- Fusion Digital Assets launched with custody from Fidelity Digital Assets, expanding with Standard Chartered's digital asset custody.
- TP ICAP plans to expand in the US and Asia to meet client demand, focusing on prime brokerage and custody development.
- The company aims to expand operating hours of Fusion Digital Assets for greater client support and market accessibility.
- Regulatory shifts in the US and Europe, like the repeal of SAB 121, are easing entry for wholesale institutions into digital asset markets.
- Clearstream and Deutsche Börse Group are enhancing their custody services for crypto assets, anticipating a launch in April.
- TP ICAP is monitoring stablecoin frameworks closely, expecting mainstream adoption to drive volume on its crypto exchange.
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