Nomura Finances Clearing House For Digital Assets ClearToken
Laser Digital, a division of Nomura that deals with digital assets, has put money into ClearToken, a startup that is building a clearing house for the digital asset market. No details about the investment were given.
ClearToken says it has found a hole in the way the digital asset market is set up and is building a central counterparty to fill it.
The CCP will get rid of bilateral counterparty risk for settlement, financing, and derivative transactions by centralizing clearing, settlement, collateral, and risk management in the same way that traditional exchange-traded assets do.
This will let everyone in the ecosystem, including investors, exchanges, brokers, market makers, and custodians, deal with the CCP instead of each other. This will speed up transactions, make better use of capital, and reduce risk for everyone.
ClearToken’s CCP is not built into any one exchange or platform, and it can be used to clear over-the-counter transactions that are agreed upon by both parties.
The company, which is based in the UK, says it is working with regulators around the world to make rules that it will follow in order to keep the current ecosystem stable and protect participants.
Laser Digital, a Swiss-based independent digital asset company started by Nomura last year to work on things like DeFi, centralized finance, web3, and blockchain infrastructure, is incubating the project.
CEO of ClearToken Ben Stephens says:
“It is our ambition that this solution will mature the market to its next stage. We are already in progressed discussions with a number of key market participants who are fully supportive of our initiative.
With Laser Digital’s support, ClearToken has the confidence to take its next steps as an industry-leading team with significant experience and expertise.”
CEO of Laser Digital Jez Mohideen is joining the ClearToken board.
“ClearToken’s initiative has the capacity to remodel a marketplace fraught with bilateral risk, transforming this market as we know it. We’re proud to be an investor and early supporter of this very necessary innovation.”
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