ClearToken, a digital asset clearing and settlement company, has received approval from UK regulators to launch a system for settling crypto and stablecoin transactions. The Financial Conduct Authority has authorized its Delivery versus Payment (DvP) settlement platform, CT Settle, to support spot trades in crypto assets, stablecoins, and fiat currencies.

CT Settle aims to alleviate barriers to adoption among institutions hesitant about digital assets. Once operational, regulated financial institutions can use this digital asset settlement system that adheres to traditional financial infrastructure standards. ClearToken believes this move will drive digital asset adoption at scale.

The FCA’s decision to authorize ClearToken reflects the UK’s broader regulatory shift towards integrating digital assets into the traditional financial system. The Bank of England has opened a consultation on stablecoins, signaling a more pragmatic approach to regulation. The UK government also allows retail investors to access crypto exchange-traded notes, part of a national effort to integrate digital assets into mainstream markets.

Read more at Cointelegraph

1. Bitcoin reaches new all-time high of $60,000, driven by increased institutional adoption and growing interest from retail investors. The cryptocurrency’s market cap surpasses $1 trillion for the first time, solidifying its position as a mainstream asset class.

2. Ethereum’s price hits a record high of $2,000 as the demand for decentralized finance (DeFi) applications continues to grow. The blockchain platform’s network activity also surges, with daily transactions reaching new highs and gas fees soaring.

3. NFTs (non-fungible tokens) gain popularity in the art world, with digital artworks selling for millions of dollars at online auctions. Major artists and celebrities are embracing NFTs as a new way to monetize their creations and engage with fans in a unique way.: ClearToken Gains FCA Approval for Crypto Settlement System