ClearToken Adopts Nasdaq Eqlipse

ClearToken and Nasdaq announced that ClearToken has adopted Nasdaq Eqlipse Clearing to support the development of its new clearing and settlement service for digital assets.  The technology serves as a real-time, multi-asset clearing and risk platform for both traditional and digital markets. According to a story in MarketsMedia news, ClearToken will first launch a digital settlement service, CT Settle, supporting delivery-vs-payment (DvP) and netting for digital assets and fiat currencies, including cryptoassets and stablecoins, having recently received authorization from the UK Financial Conduct Authority (FCA). Today, much of the digital asset market is characterised by bilateral trading conducted on a gross, unnetted basis, requiring participants and market makers to prefund their trades by putting up the total amount they trade with counterparties before entering transactions. ClearToken is actively working on establishing a full central counterparty clearing house for digital assets that connects to multiple trading venues, custodians, and settlement systems, rather than being tied to a single exchange or trading platform. This will allow participants to interface a central counterparty rather than each other, streamlining transactions and reducing risk across the ecosystem. It will operate 24/7 to accommodate the around-the-clock nature of digital asset markets while providing real-time risk management through margin and default fund contributions.