The completion of the acquisition deal makes the German stock market exchange, Deutsche Börse, the majority owner of Crypto Finance AG. The initial signed agreement in June got officially closed on December 15.
German Stock Exchange, Deutsche Börse has acquired a majority stake in Crypto Finance AG. The Swiss firm focuses on digital assets will enable Crypto Finance AG to access the German market ecosystem.
Broaden both its product and service portfolio
The announcement by Deutsche Börse on its website says the initiative will enable the company to provide its clients and partners with access to digital asset services, including post-trades. Eric Leupold, Head of Cash Market at Deutsche Börse, said:
“Thanks to Crypto Finance’s proven expertise and the technologies they have developed, we can now enable financial institutions and professional investors to enter the digital asset market. This is a step further in our digital asset strategy.”
As part of the deal, Crypto Finance will leverage access to Deutsche Börse’s client, infrastructure network, and solid capital base to further grow the Crypto Finance team, realize structural growth plans, and strategically broaden its product and service portfolio. Expansion of the customer base will be intensified, focusing on Germany in Europe, and Singapore in Asia. Jan Brzezek, CEO and co-founder of Crypto Finance, explains:
“Established financial institutions increasingly want to start investing in digital assets and are looking for a trustworthy partner. With its esteemed reputation and broad expertise in operating financial market infrastructure, Deutsche Börse garners this trust. We are very excited to continue our success story with our colleagues, existing and new clients, and partners.”
Increasing interest in the decentralized industry
Deutsche Börse has, over the past year, been aggressively listing crypto exchange-traded products (ETP) on its digital exchange, Xetra, which now amounts to over 20. Just recently, British crypto-investment manager ETC Group announced that it would be launching five new “exchange-traded cryptocurrencies” backed by top altcoins on Xetra.
There has been a sharp rise recently in crypto funding. Morgan-Stanley-backed Bitcoin firm NYDIG raised a whopping $1 billion in exclusive funding round, showing Wall Street’s increasing interest in the decentralized industry. Robert Gutmann, co-founder and CEO of NYDIG stated:
“The prospects for both NYDIG and Bitcoin have never been more exciting […] this new equity capital will further accelerate progress towards making this exciting network accessible – and useful – to all.”