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Deutsche Börse acquires majority stake in Crypto Finance Group

                                                            Die Deutsche Börse – ein deutscher Börsenbetreiber – hat den Erwerb einer Mehrheitsbeteiligung an der Crypto Finance AG abgeschlossen – einem führenden Schweizer Unternehmen mit Fokus auf Digital Asset Services.  Der Deal wurde ursprünglich im Juni unterzeichnet, aber am 15. Dezember offiziell geschlossen.

Deutsche Börse and Crypto Finance have signed the agreement

Deutsche Börse announced this on its website. As a result of the initiative, the company will provide its customers and partners with access to digital asset services, including post-trades.

Eric Leupold – Head of Cash Market at Deutsche Börse – praised the “proven expertise and the technologies they have developed” of Crypto Finance. He explained that without these functions, German financial institutions and professional investors would find it difficult to get into the cryptocurrency industry.

The deal gives Crypto Finance AG access to the German market ecosystem. The Swiss company has already expanded its services to Asia by offering digital asset opportunities to Singapore-based clients.

Jan Brzezek – Chief Executive Officer and co-founder of Crypto Finance – noted that established currency organizations are increasingly trying to jump on the crypto bandwagon. Thanks to its reputation and expertise, which has proven itself over the years, Deutsche Börse has earned the trust to work with his company, the managing director said:

“We are very pleased to continue our success story with our colleagues, existing and new customers and partners.”

Despite the acquisition, Jan Brzezek will remain the head of Crypto Finance and will retain a significant stake in the company. The Swiss company will continue to operate as an independent unit and focus on banks, fintech and financial intermediaries.

The incumbent Chairman of the Board of Directors Dr. Tobias Reichmuth has resigned from his position, however, as Eric Leupold will take over this role.

Invesco has Bitcoin Spot ETN introduced with Deutsche Börse

A few weeks ago, Deutsche Börse announced the listing of a Bitcoin Spot ETN on its digital exchange “Xetra”. The new product came from Invesco – an American investment company that tried to apply for a BTC ETF in the US earlier this year.

Deutsche Börse announced that the ETN “Invesco Physical Bitcoin” (ticker: BTIC) enables “physically secure access to Bitcoin performance”. The product has been approved by the regulated market of the Frankfurt Stock Exchange. According to the German stock exchange operator, this development brings “significantly reduced risks when processing transactions”.

Gary Buxton – a top manager at Invesco – said the ETP will help provide institutional access to Bitcoin:

“Most of the conversations we have with customers are not really about Bitcoin itself, but about access to Bitcoin and how to get used to the breakup, how to get used to the valuation. Indeed, one of the strengths of ETPs is as an access vehicle. “

Selected image courtesy of ICO


Source: Crypto News Deutsch

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