Brokerage giant TP ICAP's crypto spot platform Fusion will launch stablecoin trading pairs

ChainCatcher news, according to Bloomberg, the brokerage giant TP ICAP Group's institutional crypto spot platform Fusion Digital Assets plans to add stablecoin trading pairs in the first half of next year.

The platform's monthly trading volume in September surpassed $1 billion for the first time, with the number of transactions increasing fivefold compared to the same period last year, and the nominal trading volume has grown by approximately 85% on average per month over the past 12 months. Simon Forster, co-head of global digital assets at TP ICAP, stated that friendly U.S. regulations are driving institutional participation; Duncan Trenholme mentioned that institutions from multiple countries may directly exchange stablecoins priced in different fiat currencies, forming an "on-chain" spot foreign exchange market. Currently, Fusion only offers spot trading for BTC and ETH, which is far below the scale of retail-driven platforms like Binance.