German exchange operator Deutsche Börse Group said on Thursday it has completed the acquisition of a majority stake in Swiss fintech firm Crypto Finance AG.
The deal, which was first signed in June, will mean Deutsche Börse can provide a direct entry point for investments in digital assets, including post-trade services such as custody.
Crypto Finance AG offers crypto trading, storage and investment tools in over 200 digital assets for institutional and professional clients. The Zug-based business is regulated by The Swiss Financial Market Supervisory Authority (FINMA), the Swiss regulator.
According to a press release, CEO and co-founder Jan Brzezek and the current management team will continue to lead Crypto Finance and retain a significant stake in the company. The business will continue to operate as an independent brand, with a focus on banks, asset managers, fintechs, and other financial intermediaries as its core customers.
“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,” said Eric Leupold, head of cash market at Deutsche Börse. “This is a step further in our digital asset strategy.”
The move comes just two months after Deutsche Börse teamed up with Commerzbank to invest in fintech 360X in October. The deal was struck with the aim of building a blockchain-based digital marketplace for digital asset classes in art and real estate.
Read full story on The Block