TP ICAP to launch crypto trading platform

fillippone

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Quote from: Lucius on June 30, 2021, 05:34:16 AM

Quote from: oHnK on June 29, 2021, 10:10:57 AM

Like Paypal accepting BTC I hope the market responds positively. Looking at TCAP's share price which also responded positively, I hope this will have a good impact on the market which is currently undergoing a correction.

I may be wrong, but you can't compare PP and a brokerage firm in terms of market impact - because there is a huge difference for ordinary people - most know about PP, and how many know about TP ICAP, and what does that name mean for them?

Absolutely.
Those firms are targeting at totally different kind of clients, with totally different needs.
I wouldn’t infer impact on prices. We are comparing 1,000,000 clients with 0.1 BTC versus 1,000 with 100 BTC.
Maybe the total in place is the same, but the rice imapact of the latter category is arguably bigger.

Lucius

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Quote from: oHnK on June 30, 2021, 09:31:32 AM

I don't mean to compare TP ICAP with PP but in here I just wanna tell that every news which is support BTC will give positive vibe to the crypto market.

That’s good news, but take the MicroStrategy example and look at how good news affects the market - they buy BTC and the price goes down. The average small investor does not take this into account at all, and the way MS invests in BTC has no effect on price, which leads us to the conclusion that large investors know how to invest in something without seriously affecting the price.

If Apple were to announce that it had invested in BTC, I believe the price would jump up at least 15% to 20% within 24 hours, because it is news that you can sell very well to the masses - try to sell TP ICAP news to anyone but strictly business people, and you will see that it will mean nothing to them.

oHnK

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Quote from: Lucius on June 30, 2021, 05:34:16 AM

I may be wrong, but you can't compare PP and a brokerage firm in terms of market impact - because there is a huge difference for ordinary people - most know about PP, and how many know about TP ICAP, and what does that name mean for them?

I don't mean to compare TP ICAP with PP but in here I just wanna tell that every news which is support BTC will give positive vibe to the crypto market. As we know, TP ICAP is the world’s biggest interdealer broker which has high-class customers and institutional segment so if this will happen and enter the segment, the potential of the daily transaction will higher than retail exchanger. PP is all segment mass adoption, TP ICAP is an interdealer broker, both of them are different and that's right. But there's a main similar which is they support BTC, that's enough I think.

Lucius

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Quote from: fillippone on June 29, 2021, 03:46:35 AM

They will not compete with Coinbase, rather with Coinbase Pro, or the various OTC desks in the world, servicing institutional investors seeking wholes sale trading and post trade services.
And I guess ICAP, a legacy world brokers, has the competitive advantage, in a sense like CME had, of the capability to connect with legacy infrastructure of traditional banking world.

It means that there is still room in that part of the business, because I doubt that someone so significant would have launched such a service if they had not thoroughly researched the market. While some may say that there is nothing here for small investors, the news is generally positive and shows that even the biggest ones are showing interest in Bitcoin - of course we should not lie to each other that they care about technology, we all know they want to profit from it.

Quote from: oHnK on June 29, 2021, 10:10:57 AM

Like Paypal accepting BTC I hope the market responds positively. Looking at TCAP's share price which also responded positively, I hope this will have a good impact on the market which is currently undergoing a correction.

I may be wrong, but you can't compare PP and a brokerage firm in terms of market impact - because there is a huge difference for ordinary people - most know about PP, and how many know about TP ICAP, and what does that name mean for them?

Daltonik

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Reuters indicates the planned launch in the second half of this year, which is more optimistic compared to what The Block says, which talks about the launch of the platform at the end of the year, taking into account the need to register with the UK FCA, although both publications fit into the time interval.

oHnK

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I also just read this news a few minutes ago, and it said it will be released in the second semester of 2021. The retail market should have started to look at the potential it has if TP ICAP will actually release their BTC trading platform because this will open the door for institutional investors who have a quite different perspective from retail. In fact, it is possible that their daily transactions will be double that of Binance, whose segment is retail. TP ICAP will also develop their platform for ETH trading, so this is not a trivial decision. Like Paypal accepting BTC I hope the market responds positively. Looking at TCAP's share price which also responded positively, I hope this will have a good impact on the market which is currently undergoing a correction.

fillippone

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A very interesting news on the institutional side of Bitcoin Adoption:

Exclusive: TP ICAP to launch crypto trading platform with Fidelity, Standard Chartered

In brief:

Quote

LONDON (Reuters) - TP ICAP, the world’s biggest interdealer broker, is launching a cryptocurrency trading platform with Fidelity Investments and Standard Chartered’s digital assets custody unit, the consortium said on Tuesday.

Institutional investors have warmed to the crypto sector this year and the platform, which is due to launch in the second half of the year, will initially allow them to trade bitcoin, with second-largest token ether to be added later.

TP ICAP, along with Fidelity Digital Assets and Zodia Custody, launched by the venture capital arm of Standard Chartered and Northern Trust in December, is seeking to make crypto trading akin to that of traditional assets like stocks, bonds and foreign exchange.

The platform will offer post-trade infrastructure with a network of digital asset custodians, the consortium said in a statement, and separate execution and settlement, something widely seen as key to greater involvement of larger risk-averse investors in the emerging crypto market.

This is not going to be the classic, retail oriented, platform.
This is going to be an institutional oriented platform. They will not compete with Coinbase, rather with Coinbase Pro, or the various OTC desks in the world, servicing institutional investors seeking wholes sale trading and post trade services.
And I guess ICAP, a legacy world brokers, has the competitive advantage, in a sense like CME had, of the capability to connect with legacy infrastructure of traditional banking world.

Definetly something to keep an eye on.

Topic: TP ICAP to launch crypto trading platform (Read 107 times)