ClearToken
ClearToken is a London-based financial market infrastructure provider building FCA-authorised clearing, settlement, tokenisation, and payment services for institutional participants trading digital assets, stablecoins, and fiat currencies in the UK.
- Company typePrivate
- Founded2021
- HeadquartersLondon, United Kingdom
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What ClearToken does
ClearToken is a UK-based financial market infrastructure (FMI) provider for digital assets, founded in 2021 and headquartered in London. The company builds clearing, settlement, tokenisation, and payment services that apply traditional central counterparty (CCP) and book-entry settlement principles — novation, multilateral netting, portfolio margining, and simultaneous delivery-versus-payment — to cryptoasset, stablecoin, and fiat markets. Its institutional target market comprises trading venues and exchanges, OTC and institutional trading platforms, brokers and market makers, prime brokers, custodians, and asset managers that today transact digital assets bilaterally without trusted intermediaries.
The platform is organised around four core services. CT Register provides tokenisation and de-tokenisation of fiat, stablecoins, and cryptoassets with an immutable real-time record of positions. CT Clear, pending Bank of England authorisation, offers central counterparty clearing with novation, multilateral netting, and portfolio margining. CT Pay delivers single-sided payment and payment-versus-payment settlement to eliminate Herstatt risk. CT Settle provides FCA-authorised delivery-versus-payment net settlement for cryptoassets, stablecoins, and fiat, operating 24/7 with up to 98% capital reduction through multilateral netting. The services are deployed as Daml-based Digital Asset Platforms on the Canton Network, with risk management and margin calculations powered by Nasdaq Eqlipse Clearing technology. ClearToken operates through regulated subsidiaries including ClearToken Depository Limited (FCA-authorised payment institution), ClearToken CCP Limited (pending Bank of England CCP authorisation), and ClearToken CSD Limited (a participant in the Bank of England's Digital Securities Sandbox).
The business model is enterprise B2B transaction-fee revenue across clearing, settlement, tokenisation, and payment services, with pricing negotiated bilaterally through a dedicated partnerships team rather than publicly listed. Go-to-market is direct enterprise field sales targeting institutional participants, supported by working groups, structured six-step clearing-member onboarding, and thought-leadership content. The company raised a $10 million seed round in March 2024 led by Nomura's Laser Digital — which had incubated ClearToken — with participation from Flow Traders, GSR, LMAX Digital, and Zodia Custody, a group that doubles as both shareholders and prospective clearing/service members. The first complete settlement cycle on CT Settle was completed in December 2025 between LMAX Digital and Flow Traders, with Zodia Custody and Bank Frick as custody and banking partners.
ClearToken firmographics
Firmographics- Name
- ClearToken
- Legal name
- ClearToken Services Ltd
- Website
- https://cleartoken.io
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- ClearToken is a London-based financial market infrastructure provider building FCA-authorised clearing, settlement, tokenisation, and payment services for institutional participants trading digital assets, stablecoins, and fiat currencies in the UK.
- Ownership category
- akta.pro rank
ClearToken industry classification
Industry- Product category
- Digital Asset Financial Market Infrastructure
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Securities and Commodity Exchanges (523210)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Security Brokers, Dealers & Flotation Companies (6211)
- akta.pro primary industry
- Clearing & Settlement Operations Services (FSAFALAB)
- akta.pro secondary industries
- Clearing & Settlement Operations (Post-Trade) (FSACALAC), Prime Brokerage & Institutional Trading Services (FSAPADAF), Digital Asset/Crypto Trade Execution Platforms (FSAFANAO)
Keywords
Where ClearToken is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices1 record
Markets served
ClearToken business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales
Revenue model
- Clearing and Settlement Fees: Revenue generated from central counterparty clearing services (CT Clear) and net settlement services (CT Settle), likely through transaction fees, clearing fees, and settlement charges for institutional participants using the platform.
- Tokenisation Services: Fees from tokenisation and de-tokenisation of fiat, stablecoins, cryptoassets, and securities through CT Register service.
- Payment Services: Revenue from payment processing services through CT Pay for fiat currencies, stablecoins, and tokenised deposits including PvP settlement.
Go-to-market motion1 record
Distribution channels2 records
Marketing channels6 records
ClearToken product offering
Product offeringCore offering
ClearToken operates a regulated digital asset financial market infrastructure comprising four integrated services: CT Register provides tokenisation and de-tokenisation of fiat, stablecoins, and cryptoassets; CT Clear offers central counterparty clearing with novation, multilateral netting, and portfolio margining (subject to Bank of England authorisation); CT Pay delivers single-sided payment and payment-versus-payment (PvP) settlement; and CT Settle provides 24/7 delivery-versus-payment (DvP) net settlement. Services are delivered via Daml-based Digital Asset Platforms on the Canton Network within an FCA-authorised perimeter, targeting institutional trading firms, brokers, prime brokers, custodians, exchanges, and asset managers.
Product overview
ClearToken is a financial market infrastructure group for digital assets offering a unified platform composed of four core services: CT Register (tokenisation/de-tokenisation), CT Clear (central counterparty clearing), CT Pay (payment and PvP settlement), and CT Settle (DvP net settlement). Together these services eliminate counterparty exposure, unlock capital efficiency through netting and portfolio margining, and provide 24/7 settlement for cryptoassets, stablecoins, and fiat currencies under UK FCA regulation. The group also includes ClearToken CCP Limited (pending Bank of England CCP authorisation) and ClearToken CSD Limited (Digital Securities Depository, operating in the UK Digital Securities Sandbox). The services are deployed on the Canton Network as Daml-based Digital Asset Platforms.
Differentiator
Problem solved
Functional benefit
Brands
- CT Register: Tokenisation and de-tokenisation service for fiat, stablecoins and cryptoassets, provided through ClearToken Depository Limited
- CT Clear
- CT Pay
- CT Settle
Products and services
- CT Register Tokenisation and de-tokenisation service for fiat currencies, stablecoins, and cryptoassets within ClearToken's regulated FMI perimeter. Provides an authoritative, immutable real-time record of positions reflected as data tokens, enabling programmable, auditable settlement workflows across CT Pay and CT Settle. For institutional participants requiring venue-agnostic, non-custodial tokenisation.
- CT Clear Central counterparty clearing service for digital assets, acting as the legal counterparty to both sides of trades through novation, providing multilateral netting and portfolio margining. Subject to regulatory authorisation from the Bank of England. For institutional trading firms, brokers, and market makers seeking capital efficiency and counterparty risk elimination.
- CT Pay Regulated payment service delivering single-sided payment and payment-versus-payment (PvP) settlement for fiat currencies, stablecoins, and tokenised deposits. Eliminates Herstatt risk through simultaneous atomic discharge of both payment legs across multiple banks. For institutional participants needing 24/7 cross-currency payment infrastructure.
- CT Settle Regulated delivery-versus-payment (DvP) net settlement service for cryptoassets, stablecoins, and fiat currencies. Operates 24/7 with multilateral netting reducing capital requirements and simultaneous asset-cash exchange eliminating settlement risk. FCA-authorised. For institutional trading firms, brokers, prime brokers, custodians, and asset managers.
- ClearToken CCP Limited Central Counterparty Clearing House entity expected to be the world's first digital asset CCP. Will novate trades, provide multilateral netting across venues, and offer portfolio margining, subject to regulatory authorisation from the Bank of England.
- ClearToken CSD Limited Digital Securities Depository providing the legal and operational framework for recording, safekeeping, and transferring digital securities with legal settlement finality under securities and insolvency law. Participant in the Bank of England's Digital Securities Sandbox. For issuers and institutional participants in tokenised securities markets.
Quantifiable outcome
- Up to 98% capital reduction through multilateral netting
- +3 more outcomes
Companies that use ClearToken
Customer profileNamed customers4 records
Segments5 records
Ideal customer profiles5 records
ClearToken technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
Feature5 records
ClearToken partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered core and strategic.
- Canton NetworkcoreClearToken launched three digital asset platforms (CT Register, CT Pay, CT Settle) as Daml-based Digital Asset Platforms (DAPs) on the Canton distributed ledger network, enabling privacy-preserving atomic composability for institutional ecosystem.
- Zodia CustodycoreZodia Custody served as the sole digital custody partner for CT Settle's first complete settlement cycle, providing digital asset custody for the live settlement of cryptoasset and fiat currency transactions.
- Bank FrickcoreBank Frick served as the sole banking partner for CT Settle's first complete settlement cycle, providing banking services for the live settlement.
- NasdaqcoreClearToken adopted Nasdaq Eqlipse Clearing technology to enhance capital efficiency in digital asset markets. The technology powers ClearToken's clearing infrastructure for risk management and margin calculations.
- ISSA (International Securities Lending Association)strategicClearToken joined ISSA as a new member, participating in the international securities lending and financing industry association.
- A&O Shearman Fuse ProgramstrategicClearToken was selected from 80 nominations for A&O Shearman's Fuse innovation incubator specialising in LegalTech and digital assets. The program provided knowledge exchange about digital assets with A&O Shearman's lawyers and clients.
Scale indicators6 records
Recent moves6 records
Expansion highlights6 records
ClearToken competitors and assessment
Company assessmentBroad incumbents
- Euroclear: Euroclear is a leading international central securities depository providing settlement and safekeeping for traditional securities. It is comparable to ClearToken's CSD Limited subsidiary as an incumbent infrastructure provider into which tokenised securities could flow.
- DTCC: DTCC is the dominant US-based post-trade infrastructure provider behind traditional securities clearing and settlement. It is comparable to ClearToken as a large incumbent market infrastructure exploring digital asset and tokenisation initiatives.
- LCH (LSEG): LCH is the dominant global clearing house owned by London Stock Exchange Group, providing CCP services across asset classes. It is comparable to ClearToken as the established incumbent CCP ClearToken must position against as it extends clearing into digital assets.
- ICE Clear Europe: ICE Clear Europe is a major London-based CCP clearing listed derivatives and commodities. It is comparable as a regulated UK CCP that could extend into digital asset clearing, representing both a competitive incumbent and a hiring pedigree source for ClearToken's risk leadership.
Direct peers
- Fireblocks: Fireblocks provides institutional digital asset transfer, settlement, and clearing network infrastructure serving trading firms, market makers, and custodians. It is directly comparable as a competing digital asset post-trade/settlement technology provider to ClearToken's CT Settle and CT Register.
- Copper (Copper.co): Copper provides institutional digital asset custody and settlement infrastructure including ClearLoop and post-trade services. It overlaps directly with ClearToken on institutional digital asset settlement, and several ClearToken team members (e.g., Head of Compliance) previously held senior roles there.
- Fnality: Fnality is a UK-based peer building wholesale central bank digital currency (CBDC) settlement infrastructure for institutional payment-versus-payment settlement, directly comparable to ClearToken's CT Pay and CT Settle PvP/DvP services across regulated digital and fiat rails.
- Zero Hash: Zero Hash provides regulated digital asset settlement, clearing, and trading infrastructure-as-a-service to broker-dealers, custodians, and fintechs. It competes with ClearToken in providing embedded post-trade infrastructure across institutional digital asset rails.
Emerging players
- Zodia Custody: Zodia Custody is an institutional digital asset custodian (joint venture with Standard Chartered/ Northern Trust heritage) that serves as ClearToken's live settlement custody partner. It is comparable as an adjacent infrastructure provider in the institutional digital asset post-trade stack.
Regional players
- Galaxy Digital: Galaxy Digital is a US-focused digital asset financial services firm offering trading, asset management, and infrastructure including its own clearing and custody capabilities. It is comparable as a peer providing institutional digital asset market infrastructure from a non-UK jurisdiction.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
ClearToken social profiles
Digital presenceClearToken compliance and trust
Trust signalCompliance4 records
ClearToken financial estimates
Financial estimateRevenue estimate
Valuation estimate
ClearToken leadership team
Management profileNumber of profiles
Profiles21 records
ClearToken subsidiaries and ownership
Company hierarchySubsidiaries6 records
ClearToken funding detail
Funding detailFunding overview
Funding rounds2 records
Investors5 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
ClearToken M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about ClearToken
What does ClearToken do?
ClearToken operates a regulated digital asset financial market infrastructure comprising four integrated services: CT Register provides tokenisation and de-tokenisation of fiat, stablecoins, and cryptoassets; CT Clear offers central counterparty clearing with novation, multilateral netting, and portfolio margining (subject to Bank of England authorisation); CT Pay delivers single-sided payment and payment-versus-payment (PvP) settlement; and CT Settle provides 24/7 delivery-versus-payment (DvP) net settlement. Services are delivered via Daml-based Digital Asset Platforms on the Canton Network within an FCA-authorised perimeter, targeting institutional trading firms, brokers, prime brokers, custodians, exchanges, and asset managers.
Is ClearToken a public or private company?
ClearToken is a private company. It is classified as venture growth investor backed and is currently operating.
When was ClearToken founded?
ClearToken was founded in 2021. It employs 11 to 50 people.
Where is ClearToken based?
ClearToken is headquartered in London, United Kingdom, in the Europe region.
How does ClearToken make money?
Three revenue lines are on record. Clearing and Settlement Fees are the primary driver. The others are tokenisation Services and payment Services.
Who are ClearToken's main competitors?
Broad incumbents on record are Euroclear, DTCC, LCH (LSEG) and ICE Clear Europe. Direct peers are Fireblocks, Copper (Copper.co), Fnality and Zero Hash. Zodia Custody is listed as an emerging player. Galaxy Digital is listed as a regional player.
Does ClearToken have an API?
No public API is recorded for ClearToken.
What industry is ClearToken in?
ClearToken's product category is Digital Asset Financial Market Infrastructure. Its primary akta.pro industry code is FSAFALAB, Clearing & Settlement Operations Services, with a secondary code of FSACALAC, Clearing & Settlement Operations (Post-Trade). Its NAICS code is 522320 and its SIC code is 6200.