PANews reported on November 12th that, according to The Block, the UK Financial Conduct Authority (FCA) has approved London-based ClearToken to launch a regulated settlement service for digital assets. Its upcoming CT Settle platform uses a "payment settlement" model, enabling simultaneous settlement of cryptocurrency, stablecoin, and fiat currency transactions. The platform is designed similarly to the CLS system in the foreign exchange market, reducing settlement risk and freeing up capital. This approval grants ClearToken the qualifications of an authorized payment institution and a registered crypto asset company, laying the foundation for building a future tokenized and digital asset clearinghouse. Furthermore, the company plans to apply for approval from the Bank of England to expand its clearing and margin services through the central bank's digital securities sandbox.PANews reported on November 12th that, according to The Block, the UK Financial Conduct Authority (FCA) has approved London-based ClearToken to launch a regulated settlement service for digital assets. Its upcoming CT Settle platform uses a "payment settlement" model, enabling simultaneous settlement of cryptocurrency, stablecoin, and fiat currency transactions. The platform is designed similarly to the CLS system in the foreign exchange market, reducing settlement risk and freeing up capital. This approval grants ClearToken the qualifications of an authorized payment institution and a registered crypto asset company, laying the foundation for building a future tokenized and digital asset clearinghouse. Furthermore, the company plans to apply for approval from the Bank of England to expand its clearing and margin services through the central bank's digital securities sandbox.
ClearToken Receives UK Approval to Launch Cryptocurrency and Tokenized Asset Settlement System
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PANews reported on November 12th that, according to The Block, the UK Financial Conduct Authority (FCA) has approved London-based ClearToken to launch a regulated settlement service for digital assets. Its upcoming CT Settle platform uses a "payment settlement" model, enabling simultaneous settlement of cryptocurrency, stablecoin, and fiat currency transactions. The platform is designed similarly to the CLS system in the foreign exchange market, reducing settlement risk and freeing up capital. This approval grants ClearToken the qualifications of an authorized payment institution and a registered crypto asset company, laying the foundation for building a future tokenized and digital asset clearinghouse. Furthermore, the company plans to apply for approval from the Bank of England to expand its clearing and margin services through the central bank's digital securities sandbox.
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