Frankfurt Stock Exchange Deutsche Börse has acquired a controlling stake in FINMA-regulated cryptocurrency company Crypto Finance to develop cryptocurrency services.
German Stock Exchange Deutsche Börse December 16
reportedthat completed the acquisition of a controlling stake in the cryptocurrency company Crypto Finance, a provider of services for the trade, storage and investment of cryptocurrencies. The exchange entered into a contract to purchase Crypto Finance securities in June 2021, the deal was closed on December 15.
The German exchange, headquartered in Frankfurt am Main, believes that through this acquisition, it lays the foundation for building an independent, transparent and highly scalable cryptocurrency ecosystem in accordance with European legislation. Deutsche Börse will now be able to provide its partners and clients with direct and easy access to digital asset services, including post-trading services. A wide range of cryptocurrencies are being made available to existing clients and new market entrants through their platforms. In addition, synergy will contribute to the optimization of processes and systems.
Under the contract, Crypto Finance will have access to the exchange’s client base and infrastructure network, and significant financial support for the further growth of the team. It will be able to implement plans for structural growth and strategic expansion of its portfolio of products and services, and will have the opportunity to expand its client base in Germany and Singapore. Eric Leupold, head of cash payments at Deutsche Börse, believes that new opportunities are opening up for the exchange in the cryptocurrency market.
“With Crypto Finance’s proven expertise and technology, we can now offer financial institutions and professional investors to enter the cryptocurrency market. This is a step forward in our strategy for the development of the digital asset market. ”
Crypto Finance founder and CEO Jan Brzezek believes the company has chosen a reliable partner.
“Reputable financial institutions are increasingly looking to invest in digital assets and are looking for a reliable partner. Deutsche Börse has earned our trust through its reputation and extensive experience in the operational infrastructure of the financial market. We are thrilled to continue moving forward with our new colleagues and clients. ”
Jan Brzezek clarified that the Crypto Finance management team will remain the same and will continue to lead the company. Crypto Finance will continue to operate as an independent brand with a focus on clients such as banks, asset managers, fintech companies and other financial intermediaries.
The exchange has been mastering various directions in the cryptocurrency market for a long time. Deutsche Börse announced in September that it had listed Exchange Traded Bonds (ETNs) from VanEck on DOT, SOL and TRX. In April, Deutsche Börse, Commerzbank and 360X began building a real estate and art market on the blockchain. Deutsche Börse added Norilsk Nickel’s metal-backed tokens to its listing in January.
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