Deutsche Börse Group, the leading German market regulator for the trading of shares and other securities, announced today that it has acquired a majority stake in Switzerland-based Crypto Finance AG.
According to the official announcement, Deutsche Börse Group plans to expand its presence in the crypto market through a wide range of products related to digital assets. With the latest acquisition, Deutsche Börse Group aims to provide a direct entry point for investments, including post-trade services such as custody.
What is Crypto Finance AG?
Crypto Finance AG is a Swiss-based crypto services provider. It is a licensed firm that provides brokerage services for the trading of more than 200 digital assets. Additionally, Crypto Finance AG offers custody solutions for digital assets.
Commenting on the latest acquisition, Thomas Book, Trading & Clearing Board member at Deutsche Börse, said:
“Digital assets will transform the financial industry. There is increasing demand from established financial institutions looking for a reliable partner to be active in this new asset class. We are excited that Crypto Finance is joining the Group. Crypto Finance is an ideal strategic fit and will help us a lot in building a reliable and fully regulated digital asset ecosystem for institutional investors in Europe.”
Since the start of 2021, Deutsche Börse has significantly increased its crypto-related product depth. In April, the German company introduced an Exchange Traded Note (ETN) on Litecoin (LTC).