With the goal of delivering CCP services in 12–18 months, ClearToken plans to be fully regulated in the UK and has started the process of gaining clearing house recognition from the Bank of England. ClearToken plans to launch initial settlement services in 2024, provided that it receives the necessary permits from the Bank of England and the Financial Conduct Authority.

"ClearToken has attracted inward investment from firms across the US, EU, and Asia," says ClearToken CEO Benjamin Santos-Stephens. Our investors have realized that the UK is the best place to host the first digital asset clearing house because of the government's progressive legislative program to recognize and regulate digital assets, enabling their safe adoption, as well as the UK's current standing as a global leader in securities market clearing services.

The infrastructure of ClearToken will centralize clearing, collateral, and risk management arrangements in an effort to reduce bilateral counterparty risk for settlement, financing, and derivative transactions. The business will be open around-the-clock, accepting transactions from a variety of venues and OTC marketplaces throughout the world, and managing risk in real-time through default fund contributions and margin.

"Only through close collaboration between infrastructure providers will the digital asset ecosystem remain viable in the future," says Julian Sawyer, CEO of Zodia Custody. ClearToken fills in this gap by providing effective clearing, which is an important component of the whole picture. Zodia Custody is wagering on the institutional future of digital assets and the ecosystem's unwavering capacity to provide the necessary infrastructure with this investment.

Laser Digital, an independent digital asset firm based in Switzerland that Nomura founded last year with a focus on DeFi, centralized finance, web3, and blockchain infrastructure, is incubating the venture.

"Together with industry leaders, Laser Digital is delighted to continue to support ClearToken in its mission to strengthen and improve the structure of the digital asset market," says Olivier Dang, head of ventures at Laser Digital.