Germany’s national stock exchange has expanded its digital assets business following its acquisition of Crypto Finance, a Germany-based crypto trading service.
The purchase is yet another example of traditional market infrastructure players snapping up a crypto specialist in an effort to exploit the growing institutional investor interest in crypto assets.
A licensed securities firm, Crypto Finance offers trading and brokerage for digital assets with an in-house custody offering.
“Digital assets will transform the financial industry. There is increasing demand from established financial institutions who are looking to become active in this new asset class and want a trusted partner,” said Thomas Book, Executive Board member for Trading and Clearing at Deutsche Börse.
The deal comes weeks after Deutsche Börse and Commerzbank announced a partnership with fintech360X to develop a blockchain-based digital trading platform.
No financial details of the Crypto Finance deal were disclosed, other than to say that an investment in the “modest three digit CHF million range” had secured a two-thirds majority stake for Deutsche Börse.
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