Standard Chartered to Provide Custody for ICAP’s Fusion Digital Assets Platform

TP ICAP’s has appointed Standard Chartered as the digital asset custodian and settlement agent for its Fusion Digital Assets platform. This strengthens cooperation between the two institutions as TP ICAP develops its matched principal trading operations in digital assets.

The arrangement builds on the partnership first announced in October 2024 between Standard Chartered and TP ICAP. Under the expanded framework, clients shared by both firms will gain access to Standard Chartered’s digital asset custody infrastructure alongside trading on Fusion Digital Assets, TP ICAP’s UK-based spot crypto trading venue.

TP ICAP E&C Limited operates Fusion Digital Assets and has registered with the Financial Conduct Authority to conduct crypto asset activities in the United Kingdom. The platform connects institutional participants seeking exposure to crypto markets within a regulated environment.

Standard Chartered to Provide Custody for ICAP’s Fusion Digital Assets Platform

Also, through this collaboration, Standard Chartered will deliver custody and settlement services supporting transactions executed through the Fusion Digital Assets marketplace. The integration is here to support TP ICAP’s matched principal trading structure, where the firm intermediates trades between counterparties while managing settlement processes.

Moreover, Margaret Harwood-Jones, Global Head of Financing & Securities Services at Standard Chartered, said the expanded cooperation reflects a shared focus on linking traditional financial services with emerging digital asset infrastructure.

“We are pleased to deepen our collaboration with TP ICAP, reinforcing our shared vision of bridging traditional and digital finance. Our custody and settlement solutions will enable TP ICAP to scale its matched principal activity securely and efficiently, meeting growing institutional demand,” Harwood-Jones said.

Also, Duncan Trenholme, Managing Director and Global Co-Head of Digital Assets at TP ICAP, described the development as an important step in the firm’s digital asset strategy.

“This is a key milestone in our digital asset strategy, allowing TP ICAP to settle blockchain-based assets through our own accounts for the first time,” Trenholme said. “With Standard Chartered’s support and expertise, we will now be able to offer a much broader array of on-chain assets and a wider range of execution services to our clients.”

Lastly, the collaboration combines TP ICAP’s market infrastructure with Standard Chartered’s regulated digital asset capabilities for facilitating institutional participation in blockchain-based financial markets.

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