Breaking: Deutsche Börse acquires majority stake in crypto finance

Breaking: Deutsche Börse acquires majority stake in crypto finance

Today, the German exchange operator, Deutsche Börse announced the completion of its fundraiser with the fintech firm, Crypto Finance AG, for which the company had first signed a deal in June this year. With its exclusive deal, Deutsche Börse declared that the company has acquired majority stake in Crypto Finance, and will now be able to facilitate direct entry point for investments in digital assets, along with custody services.

Eric Leupold, Head of Cash Market at Deutsche Börse said, “Thanks to Crypto Finance’s proven expertise and the technologies they have developed, we can now enable financial institutions and professional investors to enter the digital asset market. This is a step further in our digital asset strategy.”

Furthermore, Deutsche Börse will also provide a wide range of digital assets to its existing customers and new market participants via their established platforms. While Crypto Finance will continue to function independently, yet the updated target consumer base will now be – banks, asset managers, fintechs, and other financial intermediaries. Additionally, according to the press release, expansion of the customer base will be intensified, with a focus on Germany in Europe, and Singapore in Asia.

Jan Brzezek, CEO and co-founder of Crypto Finance noted, “Established financial institutions increasingly want to start investing in digital assets and are looking for a trustworthy partner. With its esteemed reputation and broad expertise in operating financial market infrastructure, Deutsche Börse garners this trust. We are very excited to continue our success story with our colleagues, existing and new clients and partners.”

Fundings in the crypto space experience consistent hikes

Crypto fundings are on a constant rise. Earlier this month, the Morgan Stanley-backed Bitcoin firm, NYDIG announced in a press release that it had raised the extraordinary amount of $1 billion in its exclusive funding round, determining Wall Street’s increasing interest in the decentralised industry.

“The prospects for both NYDIG and Bitcoin have never been more exciting,” said Robert Gutmann, co-founder and CEO of NYDIG. “Our roster of partnerships and strategic investors lays the foundation for NYDIG to become the leading provider of Bitcoin solutions for businesses in any industry, and this new equity capital will further accelerate progress towards making this exciting network accessible – and useful – to all.”, he added.

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