Fusion Digital Assets, TP ICAP Group’s spot cryptoasset market, has completed its first transaction as investors said confidence in the way the nascent asset class is traded is key to driving greater adoption. Simon Forster, co-head of digital assets at TP ICAP, imagines other custodians will be connected, which is a key part of the operating model. Fusion Digital Assets uses technology from GMEX Group for trading and market surveillance, as well as a new post-trade platform to connect to multiple digital asset custodians for credit checking, netting and settlement for all trading activity.

Hirander Misra, Chairman & CEO of GMEX Group, said in a statement: “This will lay strong foundations for the digital assets sector as the platform meets the increasing demand from institutional customers to access liquidity and trade spot cryptoassets, with the security that is provided by institutional grade prefunding and settlement by multiple custodians which is enabled by credible regulations.”

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