ClearToken Wins Approval From U.K.'s FCA for Digital Asset Settlement Service

ClearToken has secured authorization from the U.K.'s Financial Conduct Authority (FCA) to launch CT Settle, a delivery-versus-payment (DvP) net settlement system designed for digital assets, stablecoins, and fiat currencies. This London-based market infrastructure firm aims to resolve capital inefficiency in the industry, which is often caused by the pre-funding of trades on exchanges and OTC markets. CT Settle facilitates true DvP settlement, enabling simultaneous movement of assets and payments, thereby reducing counterparty risk and freeing up capital by eliminating the need for prefunded collateral. Backed by investors including Nomura subsidiary Laser Digital, ClearToken is developing post-trade infrastructure for 24/7 digital markets, intending to bring traditional finance's risk management and legal certainty to crypto trading. The company also plans to introduce a central counterparty clearing house (CCP) pending Bank of England approval and expand services into tokenized securities via the U.K.'s Digital Securities Sandbox.

(Source：CoinDesk)