ClearToken approved by FCA to launch digital asset settlement platform CT Settle

The UK's Financial Conduct Authority (FCA) has approved London-based company ClearToken to launch the regulated digital asset settlement platform CT Settle, which will adopt a delivery versus payment (DvP) mechanism, allowing institutions to conduct simultaneous settlements using cryptocurrencies, stablecoins, and fiat currencies. It is reported that this regulatory approval grants ClearToken dual qualifications as an "Authorized Payment Institution" and "Crypto Asset Registered Entity." The company plans to further expand into central clearing and margin services through the Bank of England's "Digital Securities Sandbox."