Deutsche Börse – a German stock market operator – completed the acquisition of a majority stake in Crypto Finance AG – a leading Swiss firm focused on digital asset services. The deal was initially signed in June but got officially closed on December 15.
Deutsche Börse announced the news on its website. As a result of the initiative, the company will be able to provide its clients and partners with access to digital asset services, including post-trades.
Eric Leupold – Head of Cash Market at Deutsche Börse – praised Crypto Finance’s “proven expertise and the technologies they have developed.” He stated that without these features, German financial institutions and professional investors would find it hard to enter the cryptocurrency industry.
The deal will enable Crypto Finance AG to access the German market ecosystem. The Swiss organization has already expanded its services to Asia by providing digital asset opportunities for Singapore-based customers.
Jan Brzezek – Chief Executive Officer and Co-Founder of Crypto Finance – noted that established monetary organizations are increasingly looking to hop on the crypto bandwagon. Deutsche Börse has garnered trust to collaborate with his firm thanks to its reputation and competence proved throughout the years, the exec said:
“We are very excited to continue our success story with our colleagues, existing and new clients, and partners.”
Despite the acquisition, Jan Brzezek will remain the leader of Crypto Finance and retain a significant stake in the company. The Swiss firm will continue to operate as an independent unit, focusing on banks, fintech, and financial intermediaries.
However, the acting Chairman of the Board of Directors – Dr. Tobias Reichmuth – stepped down from his position as Eric Leupold will take that role.
A few weeks ago, Deutsche Börse announced the listing of a Bitcoin Spot ETN on its digital stock exchange, “Xetra.” The new product came from Invesco – an American investment management company that tried to file for a BTC ETF in the USA earlier this year.
Deutsche Börse revealed that the “Invesco Physical Bitcoin” ETN (ticker: BTIC) allows “physically secured access to Bitcoin performance.” The product was greenlighted by the Regulated Market of the Frankfurt Stock Exchange. According to the German stock market operator, this development will provide “significantly reduced risks in the settlement of transactions.”
Gary Buxton – a top executive at Invesco – said the ETP will help provide institutional access to bitcoin:
“Most of the discussions we have with clients are not really about bitcoin itself but more about the access to bitcoin and how you get comfortable with segregation, how you get comfortable with the valuation. Really, one of the strengths of ETPs is as an access vehicle.”
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