Deutsche Börse in Pact to Buy Majority Stake in Crypto Finance AG for at Least $108.6M

Deutsche Börse in Pact to Buy Majority Stake in Crypto Finance AG for at Least $108.6M

Germany-based exchange Deutsche Börse Group said it has agreed to buy a two-thirds stake in Crypto Finance AG, a fully licensed financial group that offers trading, storage, and investment in digital assets to institutional and professional clients for more than $100 million.

  • Deutsche Börse said its investment was in the "moderate" three-digit Swiss franc million range. Given that 100 million Swiss francs are currently valued at USD $108.6 million, the price is at least that much.
  • The exchange said the deal extends its offering for digital assets by providing a direct entry point for investments, including post-trade services such as custody.
  • Crypto Finance offers 24/7 trading and brokerage of more than 200 digital assets in combination with in-house custody. Through connections to a variety digital asset venues worldwide, Crypto Finance bridges the problem of liquidity fragmentation in the market, Deutsche Börse said. Professional and institutional clients can directly invest in digital assets, without having to set-up their own infrastructure and operational frameworks.
  • Deutsche Börse said its goal is to create a neutral, transparent, and highly scalable digital asset ecosystem under European regulation.
  • “Digital assets will transform the financial industry," said Thomas Book, executive board member for Trading & Clearing at Deutsche Börse. "There is increasing demand from established financial institutions who are looking to become active in this new asset class and want a trusted partner.”
  • Crypto Finance's founder and CEO Jan Brzezek will continue to run the business.
  • The transaction is expected to close in Q4 following regulatory approvals.
  • Source

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