Fusion Digital Assets, TP ICAP Group’s institutional crypto spot platform, plans to offer stablecoin trading pairs in the first half of next year when trading volumes start to increase.
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- TP ICAP’s digital asset platform, Fusion, plans to launch stablecoin trading pairs by mid-2026, demonstrating growing institutional confidence in stablecoins and their role in cross-border finance.
- Fusion’s trading volume recently exceeded $1 billion in September, increasing five times year over year. However, it is still far behind large retail-focused companies like Binance.
TP ICAP Group’s digital asset platform Fusion is planning to add stablecoin trading pairs to its spot trading platform, according to a report from Bloomberg. Simon Forster, global co-head of digital assets at TP ICAP, said the new service is expected to launch in the first half of 2026.
The decision to add stablecoins to the fold reflects the company’s confidence in the market power of stablecoins with institutional investors. The company believes that more international companies will start using stablecoins for cross-border remittances in the future.
Duncan Trenholm, global co-head of digital assets at TP ICAP, said a parallel “on-chain” version of the spot FX market is likely to emerge in the future, as more financial institutions start exchanging traditional fiat currencies in favor of stablecoins.
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At the moment, Fusion Digital Asset already offers spot Bitcoin (BTC) and Ethereum (ETH) trading for institutional investors. Adding stablecoin trading pairs to the mix will be an important step in advancing the business model of digital asset platforms.
The move comes as the stablecoin industry is projected to grow from a $300 billion market cap to $2 trillion within the next two years. JPMorgan also predicted that demand for the dollar would increase by at least $1.4 trillion as more foreign institutions begin using USD-backed stablecoins to speed up remittances.
ICAP’s Fusion increases trading volume
ICAP’s digital asset platform, Fusion, has recently seen a surge in trading activity on its platform. In September, monthly trading volume exceeded $1 billion for the first time since its founding. This figure represents a five-fold jump compared to the number of transactions made on the platform just one year ago.
Additionally, the London-based company claimed that nominal trading volumes are also on the rise, increasing by at least 85% per month on average over the past year.
Although trading activity on Fusion has increased significantly, its trading volume still lags some of the largest crypto exchanges as the market is still primarily dominated by retail investors. Binance, for example, sees around $28 billion in daily trading volume on its platform.
According to data from CoinGecko, the stablecoin pair USDC/USDT (USDT) is the third most traded asset on Binance’s spot market, with a trading volume of $2.11 billion in the past 24 hours.
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