Deutsche Börse Subsidiary Launches Off-Exchange Settlement Platform AnchorNote
Crypto Finance, a subsidiary of Deutsche Börse Group, has introduced AnchorNote, an off-exchange settlement solution aimed at enhancing capital efficiency and trading flexibility for institutional cryptocurrency investors. The platform allows institutions to execute trades across various venues without the need to move assets out of custody, thereby maintaining security and streamlining operations.
Improving Capital Efficiency Through Custody Integration
According to a Tuesday announcement, AnchorNote facilitates off-exchange trade settlement and enables institutions to earn yields within a compliant and risk-controlled framework. Philipp Dettwiler, head of custody and settlement at Crypto Finance, emphasized that the product addresses a significant gap between asset custody and capital efficiency.
Currently focused on the Swiss market, the company plans to expand AnchorNote’s availability across Europe in the near future.
Seamless Middleware Coordination with BridgePort
The system incorporates BridgePort as a middleware layer to synchronize communications between exchanges and custodians. This integration supports secure, flexible, and real-time operations for institutional clients. BridgePort CEO Nirup Ramalingam highlighted that the infrastructure underpins the scalable asset mobility required by institutional traders.
AnchorNote enables institutions to pledge assets as collateral without transferring them out of secure custody, simplifying collateral movement between platforms. Users can access the service via an intuitive interface or through direct API connections.
Regulatory Background and Market Position
Crypto Finance provides institutional-grade digital asset investment products, custody, and trading services. Its German subsidiary obtained four licenses from the German Federal Financial Supervisory Authority (BaFin) in February 2023, while the overall platform is regulated by the Swiss Financial Market Supervisory Authority (FINMA).
Deutsche Börse acquired a majority stake in the Switzerland-based Crypto Finance Group in 2021. The group already offers products on the SIX Swiss Exchange, including the first Swiss crypto asset investment fund.
Industry Context: Growing Demand for Off-Exchange Settlement
AnchorNote’s launch aligns with a broader industry trend toward off-exchange settlement solutions. In July, Coinbase International Exchange integrated Copper’s ClearLoop network to provide institutional clients with near real-time trade settlement without asset transfers onto exchanges. Similarly, in March, Sygnum partnered with crypto derivatives exchange Deribit to offer off-exchange custody through its Sygnum Protect platform.
FinOracleAI — Market View
The introduction of AnchorNote by Crypto Finance addresses a critical demand for secure, capital-efficient trading infrastructure among institutional crypto investors. By enabling off-exchange settlement without asset movement, the solution reduces counterparty risks and operational friction, potentially increasing trading volumes and liquidity in the institutional segment.
Risks include regulatory scrutiny as the service expands beyond Switzerland and across Europe, alongside competition from similar offerings by Coinbase and Sygnum. Market participants should monitor adoption rates and regulatory developments closely.
Impact: positive
