German exchange Deutsche Börse Group acquires a majority stake in Swiss fintech firm Crypto Finance AG, according to a press release by Deutsche Börse Group on Thursday.
- The deal, which was first agreed on in June, will give Deutsche Börse direct entry for investments in digital assets, including post-trade services such as custody.
- Crypto Finance AG provides cryptocurrency trading, storage, and investment services in more than 200 digital assets for institutional and professional clients.
- Jan Brzezek, CEO and co-founder of Crypto Finance, stated that he and the current management team will continue to lead the company and retain a majority stake in the company.
- Brzezek further stated that the business will continue to operate as an independent brand, with the main focus on banks, asset managers, fintech, and other intermediaries.
- Eric Leupold, head of the cash market at Deutsche Börse, stated that acquisition is a step further in their digital asset strategy.
The deal was struck to build a blockchain-based digital platform for digital asset classes in art and real estate. DB1 up +1.73%.