ClearToken Group, founded in 2022 and now an FCA-authorized digital financial market infrastructure (FMI) provider, has added three institutional DAPs to the market. This is made possible through our partnership with Canton Network.
According to the official announcement, the launch will add CT Register, CT Pay, and CT Settle to the cryptocurrency ecosystem, which continues to experience a market downturn.
Benjamin Santos-Stephens, CEO of ClearToken, said: “The introduction of CT Register, CT Pay, and CT Settle in Canton provides institutions with the regulated end-to-end payments stack they need to unlock tokenization by providing PvP payment certainty and DvP settlement finality across all forms of digital money.”
ClearToken sits at the nexus of regulated FMIs and blockchain institutional standards with its launch on the Canton Network, which boasts an institutional ecosystem including DTCC, Goldman Sachs, Euroclear, LSEG, and Tradeweb.
ClearToken plans three digital asset platforms
As per of In the released roadmap, CT Register covers tokenization and de-tokenization of fiat currencies, stablecoins, and securities. However, we plan to include securities in the future.
Then there is CT Pay, which includes payments and PvP (pay-to-pay) settlements. The latter is a stablecoin equivalent to CLS. This eliminates Herstatt risk from cross-currency transactions.
Finally, CT Settle processes DvP (delivery versus payment) net payments in FCA-approved fiat currencies, as well as DvP and net payments in crypto assets and stablecoins.
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According to market statistics, CLS processed a record total foreign exchange payment instructions of $22.9 trillion in one day, compared to the global foreign exchange market’s daily transaction value of $9.6 trillion. These products target the stablecoin market, which has a market capitalization of over $318 billion.
ClearToken seeks further approval from Bank of England
London-based ClearToken said it plans to seek further approval from the Bank of England to expand its operations in the clearing and margin sector through the Bank of England’s Digital Securities Sandbox.
This comes after the UK Financial Conduct Authority approved the launch of a regulated payments system for digital assets late last year. The move comes amid Britain’s plans to close the gap with the United States and Europe.
According to ClearToken, the plan is to “bring trust, transparency, and operational rigor to the evolving digital asset ecosystem.”
The stablecoin market is undergoing an interesting market shift: ECB
According to the study According to a report released in March by the European Central Bank, the adoption of stablecoins is increasing, which will reduce bank deposits and change the direction of bank lending.
It has also been proven that the adoption of stablecoins has a significant impact on monetary policy. The ECB has also clarified the impact that the introduction of foreign currency stablecoins will have on the concept of monetary sovereignty.
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According to the data, the funds could be channeled to loans to the United States through the Treasury rather than EU countries. The data is even worse when you factor in the green transition and the increased defense spending that the EU hopes to fund.
U.S. states are closing this gap with better regulations. As reported by Cryptopolitan, Florida is moving closer to establishing its own state-level stablecoin regulatory framework after the state Senate approved Senate Bill 314.
Block CEO Jack Dorsey has a vested interest in the trajectory of this market. According to recent information, interview “I don’t like that we support stablecoins, but our customers want to use stablecoins, and I don’t think it’s wise to move from one gatekeeper to another,” he told WIRED.
Competitive payments platforms such as Stripe and PayPal have already integrated stablecoin infrastructure, putting pressure on Block to do the same.
