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Deutsche Börse acquires majority stake in Crypto Finance AG

Deutsche Börse acquires majority stake in Crypto Finance AG

Deutsche Börse Group has acquired a majority stake in Crypto Finance AG, a financial group under consolidated Finma supervision that offers trading, storage, and investment in digital assets to institutional and professional clients.

Through the acquisition, Deutsche Börse further extends its offering for digital assets by providing a direct entry point for investments, including post-trade services such as custody.

The investment comes just two months afer the German exchange teamed up with Commerzbank to invest in fintech spinoff 360X with the aim of building a blockchain-based digital marketplace for digital asset clases in art and real estate.

“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," says Thomas Book, trading and clearing board member at Deutsche Börse. “Crypto Finance perfectly complements our recent offerings like 360X, the innovative DLT-based platform for serial marketplace creation, and our leading, centrally-cleared crypto ETNs.”

Launched in 2017, Crypto Finance Group, offers brokerage of more than 200 digital assets in combination with in-house custody and safekeeping services. The company employs 55 staff from its headquarters in Switzerland and has a regional presence in Singapore.

Jan Brzezek, CEO and founder, comments: “Since the beginning, our goal was to bridge the old and new worlds. This is why we are excited to team up with a neutral partner like Deutsche Börse, who brings trust, reputation, and expertise in traditional financial market infrastructure. In combination with our proven expertise in crypto assets and the underlying technologies, we will now achieve our goals much faster. Together, we will enable thousands of financial institutions and professional investors in Europe to instantly enter this new asset class in a way they are familiar with.”

With its investment in a "moderate three-digit CHF million range", Deutsche Börse will hold a two-thirds majority in Crypto Finance. The parties expect to close the transaction in the fourth quarter of 2021, following regulatory approvals.

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