TradFi Giant TP ICAP Gains UK Crypto License

TP ICAP, the world’s largest interdealer-broker, has registered as a digital asset provider with the U.K.’s Financial Services Authority as it attempts to break into the crypto world via its Fusion Digital Assets marketplace.

The company, a giant in infrastructure for wholesale markets for traditional finance (TradFi), is working with custodian Fidelity Digital Assets to offer a platform to match orders and execute spot crypto trades.

Under its full name of Tullett Prebon (Europe) Ltd., the company has been on the FCA’s crypto company register since Nov. 21. The register attests compliance with money laundering regulations, while a fuller legal regime for crypto authorizations is considered by the U.K. Treasury.