Crypto Finance Receives Licenses in Germany from BaFin, Prepares for Launch of Deutsche Börse Digital Exchange
Crypto Finance has been awarded four licenses by the German financial regulatory authority BaFin, marking another significant step in the company’s expansion plans. The licenses allow Crypto Finance to extend its regulated services to Germany, focusing on institutional clients.
The acquisition of Crypto Finance by Deutsche Börse in 2021 has placed the company in a pivotal role within Deutsche Börse’s crypto asset sector plans. Deutsche Börse is now preparing to launch its institutional cryptocurrency exchange named Deutsche Börse Digital Exchange (DBDX) later this year.
According to Eric Viohl, Managing Director of Crypto Finance (Deutschland) GmbH, the company aims to cover the entire value chain, including trading, settlement, custody, and post-trade services. This comprehensive offering will provide institutional investors with a seamless experience in the digital assets realm.
Deutsche Börse’s initiative with DBDX is aimed at creating a trusted market infrastructure for the crypto space, capitalizing on the growing interest from institutional actors worldwide. The licenses granted to Crypto Finance in Germany are seen as essential steps in integrating the company into Deutsche Börse’s crypto business strategies.
The increasing involvement of major financial and tech institutions in the development of institutional-grade crypto exchanges and trading platforms worldwide signifies a growing institutional presence in the cryptocurrency market. Examples include EDX Markets in the US, Elwood Technologies in the UK, and the SIX Digital Exchange in Switzerland.
Analyst comment
Positive news. The acquisition and licenses awarded to Crypto Finance by BaFin and its parent company Deutsche Börse indicate a positive move for the market. The launch of Deutsche Börse Digital Exchange and the focus on institutional clients demonstrate a growing institutional presence in the cryptocurrency market. Expect increased interest and participation from institutional actors worldwide.
