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Deutsche Börse acquires majority of Crypto Finance

Thursday 1 July 2021 15:00 CET | News

Germany-based marketplace organiser Deutsche Börse has announced acquiring a majority stake in Switzerland-based digital asset company Crypto Finance. 

As a licensed securities company, Crypto Finance offers trading, brokerage and safe custody of over 200 digital assets. The financial group is under the consolidated supervision of the Swiss Financial Market Authority (FINMA). With the acquisition, Deutsche Börse is creating a direct entry point for investments in digital assets, including post-trade services such as custody. Crypto Finance is networked with trading venues for digital assets enabling clients to invest directly in digital assets without having to set up their own infrastructure and operational framework.

As part of Deutsche Börse, Crypto Finance plans to further scale the business with digital assets and expand the range of services. Deutsche Börse is also planning to make the Crypto Finance offering accessible to participants via its established platforms. The aim is to build a scalable digital asset ecosystem under European regulation. Deutsche Börse will hold a two-thirds majority in the fintech, with the rest of the shares remaining with existing investors. According to Deutsche Börse’s press release, both parties expect the transaction to close in Q4 of 2021, depending on regulatory approvals.


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Keywords: acquisition, cryptocurrency, digital assets, crypto asset
Categories: DeFi & Crypto & Web3
Companies:
Countries: Germany
This article is part of category

DeFi & Crypto & Web3






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