ClearToken Receives UK Regulatory Approval for Digital Asset Settlement Platform
ClearToken has secured authorization from the UK Financial Conduct Authority (FCA) to operate CT Settle, a delivery-versus-payment settlement system for cryptocurrencies, stablecoins, and fiat currencies. The platform eliminates pre-funding requirements, enabling simultaneous asset and payment transfers for institutional traders.
This marks one of the first regulated crypto settlement systems in the UK, aligning with the country's expanding digital asset regulatory framework. The Bank of England recently opened consultations on stablecoin rules, which could take effect as early as next year.
ClearToken plans to introduce a central counterparty clearing house pending approval from the Bank of England. The FCA's authorization positions ClearToken as only the 57th firm approved since the launch of the UK's Cryptoasset Register in January 2020.
