UK regulators approve ClearToken's cryptocurrency and stablecoin settlement platform

Deep Tide TechFlow News, November 12th, according to Financefeeds, the London-based digital asset clearing and settlement company ClearToken has received authorization from the UK Financial Conduct Authority (FCA) to operate its CT Settle platform, a Delivery versus Payment (DvP) system. This system will handle spot trading of cryptocurrencies, stablecoins, and fiat currencies, extending traditional financial infrastructure standards to digital markets.

This approval allows regulated financial institutions to settle transactions in a controlled environment, mirroring the security and operational discipline of traditional clearing systems. ClearToken stated that CT Settle aims to address the structural weaknesses of cryptocurrencies—specifically, the capital inefficiency associated with pre-funded trading on exchanges and OTC desks—by enabling true DvP settlement with synchronized transfer of cash and assets.

The company has received support from investors including Laser Digital, a subsidiary of Nomura Securities. ClearToken plans to introduce a Central Counterparty Clearing House (CCP) after obtaining approval from the Bank of England and to expand its services to tokenized securities through the digital securities sandbox program. The platform is expected to go live in early 2025.