TechFlow news, November 12 — According to Financefeeds, ClearToken, a London-based digital asset clearing and settlement firm, has been authorized by the UK Financial Conduct Authority (FCA) to operate its Delivery versus Payment (DvP) platform, CT Settle. The system will handle spot trading of crypto assets, stablecoins, and fiat currencies, extending traditional financial infrastructure standards to digital markets.
The authorization allows regulated financial institutions to settle transactions within a controlled environment, mirroring the security and operational discipline of traditional clearing systems. ClearToken stated that CT Settle aims to address structural weaknesses in cryptocurrency—specifically, the capital inefficiency of pre-funded transactions on exchanges and OTC desks—by enabling true DvP settlement through simultaneous transfer of cash and assets.
The company is backed by investors including Laser Digital, a subsidiary of Nomura Securities. ClearToken plans to introduce a central counterparty clearing house (CCP) upon receiving approval from the Bank of England and expand its services to tokenized securities via the Digital Securities Sandbox program. The platform is expected to launch in early 2025.
