Deutsche Börse Group acquires majority stake in Swiss Crypto Finance AG – Finance Bitcoin News

On Tuesday, Deutsche Börse Group, marketplace manager for trading stocks and other securities, announced that the company had acquired a significant stake in Crypto Finance AG. The move contributes to the expansion of Deutsche Börse into the cryptocurrency industry to provide custody solutions and a “direct entry point for investments”.

Deutsche Börse Group continues to expand into digital currency ecosystem

Deutsche Börse Group’s recent announcement states that the company aims to build a trustworthy and regulated cryptocurrency ecosystem in Europe. The financial institution, with annual sales of 2.936 billion euros (3.5 billion US dollars), said it has acquired a majority stake in Crypto Finance AG.

Switzerland-based Crypto Finance AG is a financial organization focused on digital currencies that offers professional customers the storage, investment and trading of crypto assets. As a member of Deutsche Börse Group, the company will scale and at the same time support Deutsche Börse’s expansion into new financial areas.

In a press release, Deutsche Börse declares that it wants to make the products and services of Crypto Finance AG more accessible. “The aim is to establish a neutral, transparent and highly scalable digital asset ecosystem under European regulation,” explains the Frankfurt marketplace manager. “Digital assets will change the financial industry,” said Thomas Book, Board Member for Trading and Clearing at Deutsche Börse.

The services of Crypto Finance AG complement the latest offers from Deutsche Börse

The board of directors of Deutsche Börse added that the services and products of Crypto Finance AG complement the latest offerings of the marketplace manager. This includes 360X, a DLT-based platform for creating serial marketplaces, and centrally processed crypto-exchange-traded notes (ETNs). Book said there is “increasing demand” for crypto products and trusted partners. The founder of Crypto Finance AG, Jan Brzezek, remains the head of the company and continues to retain “significant personal interests”.

“Our goal from the beginning was to bridge the old and the new world,” said Brzezek in a statement. “That is why we are pleased to be working with a neutral partner like Deutsche Börse who brings trust, reputation and expertise in traditional financial market infrastructure.” According to the announcement, the takeover was in a “moderate three-digit CHF million range”, no further conditions were disclosed. Both parties are expected to close the transaction by the fourth quarter of 2021 when they receive regulatory approval.

“Deutsche Börse will hold a two-thirds majority in the multi-award-winning Fintech, which was founded in 2017,” concluded Deutsche Börse. “The remaining shares will remain with existing investors, including CEO and founder Jan Brzezek, who will continue to lead and manage the business.”

What do you think of Deutsche Börse’s majority stake in Crypto Finance AG? Let us know what you think on this matter in the comments below.

Tags in this story

Acquisition, acquisition deal, crypto assets, Crypto Finance AG, crypto currencies, Deutsche Börse, digital currencies, digital currencies, ETNs, exchange traded products, Jan Brzezek, marketplace manager, Thomas Book

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