TP ICAP to shift Fusion Digital Assets crypto exchange to a matched principal model from March 2026 to boost capital efficiency and attract institutional trading. ](

TP ICAP is moving its Fusion Digital Assets spot crypto exchange to a matched principal model from March 2026, a structure in which TP ICAP sits between buyer and seller and becomes the counterparty to both sides of each trade. The firm says the change is designed to improve capital efficiency, reduce counterparty and settlement risk, and make the venue more suitable for institutional trading by removing the need for pre-funding and by backing trades with TP ICAP’s investment-grade credit profile. The shift also aligns Fusion Digital Assets more closely with TP ICAP’s existing wholesale-market broking model in foreign exchange, rates and credit, and it comes as the firm expands the venue’s institutional plumbing. In March 2026 TP ICAP announced Standard Chartered as digital asset custodian and settlement agent for Fusion Digital Assets, and in April 2026 B2C2 said it had integrated as a liquidity provider under the venue’s new model. TP ICAP has also said the platform will add more assets and market features, including stablecoins, additional major cryptoassets such as SOL and XRP, fiat pairs, tokenised real-world assets, and longer trading hours, with weekend coverage planned as demand grows.

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