ClearToken Receives FCA Approval to Launch Digital Asset Settlement Platform CT Settle

The UK's Financial Conduct Authority (FCA) has approved London-based company ClearToken to launch a regulated digital asset settlement platform, CT Settle, which will use the cargo-to-silver countermeasure (DvP) mechanism to support institutions to settle cryptocurrencies, stablecoins and fiat currencies simultaneously. It is reported that this regulatory approval gives ClearToken the dual status of "authorized payment institution" and "cryptoasset registered entity". The company plans to further expand into centralized clearing and margin services through the Bank of England's "digital securities sandbox".