ClearToken Secures FCA Approval for Digital Asset Settlement System
- ClearToken received authorization from the U.K.’s Financial Conduct Authority (FCA) for its CT Settle system.
- CT Settle facilitates delivery-versus-payment (DvP) net settlement for digital assets, stablecoins, and fiat currencies.
- The system aims to reduce capital inefficiency by eliminating the need for prefunded collateral in trades.
- Backed by Nomura subsidiary Laser Digital, ClearToken plans to develop a central counterparty clearing house (CCP).
- ClearToken is one of two firms added to the FCA’s registry of licensed crypto service providers this month.
The approval allows ClearToken to address longstanding issues in trading efficiency within digital markets, enhancing risk management similar to traditional finance systems like CLS in foreign exchange.
With CT Settle’s launch, ClearToken aims to transform asset settlement processes and improve liquidity in digital trading environments. (Source)
