ClearToken, the digital financial market infrastructure firm, has officially launched CT Settle, a new multi-currency settlement service designed to address the fragmentation, risk, and capital inefficiency currently challenging the institutional digital asset market.
The UK-based company announced that the platform is now live, having successfully completed its first settlement cycle involving netted cryptoasset and fiat currency transactions between LMAX Digital, a regulated institutional exchange, and Flow Traders.
CT Settle operates as a neutral, supervised, and regulated layer intended to standardise the trade completion process across the ecosystem. The service employs a Delivery-versus-Payment (DvP) model, which ensures that digital assets and fiat currencies exchange hands simultaneously.Benjamin Santos-Stephens, founder and chief executive officer of ClearToken, comments: “The launch of CT Settle is a major milestone in building trusted, regulated market infrastructure that enables traditional institutions to participate in the digital asset market safely and efficiently. CT Settle reduces failed trades, simplifies settlement, reduces capital requirements, and helps institutions operate with predictable cash movements. As a UK FCA-regulated platform, CT Settle gives our clients the confidence to enter this space, knowing credit, operational, and regulatory risks are managed.”
By centralising settlement onto a single platform, ClearToken aims to mitigate credit risk, effectively removing the danger of one party failing to deliver their side of the trade. Furthermore, the platform introduces a netting process that significantly lowers the capital reserves participants are required to hold. This structure is designed to free up working capital that can be redeployed for other trading activities across fragmented venues.
The platform’s technical and operational framework relies on a consortium of high-profile partners. The initial settlement transactions utilised Zodia Custody as the sole digital custodian and Bank Frick for banking services. The underlying technology for the platform is powered by Nasdaq Eqlipse Clearing.
Designed as a “horizontal” piece of market infrastructure, the service is built to connect seamlessly between various trade sources, custodians, and banks. This architecture allows participants to avoid the operational friction of adhering to venue-specific settlement rules and managing duplicated instructions. The service currently supports cryptoassets, stablecoins, and traditional fiat currencies on a 24/7 basis.
ClearToken has positioned CT Settle as a foundational step toward a broader goal of bridging traditional finance with the digital asset economy.
Looking ahead, the company has outlined a roadmap that includes expanding connectivity to additional venues and custodians, as well as widening support for a broader range of tokens. More significantly, ClearToken plans to introduce risk mutualisation through the launch of a Central Counterparty (CCP) service. The firm also intends to establish a Digital Securities Depository (DSD) to provide settlement finality for tokenised real-world assets.
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