Germany’s biggest stock exchange operator has acquired the Zug based Crypto Finance trading exchange aimed at institutional and professional investors.
Crypto Finance has some 200 assets listed, with it also providing custody for crypto holders.
“Together, we will enable thousands of financial institutions and professional investors in Europe to immediately move into this new asset class in a way they are familiar with,” said Jan Brzezek, CEO & Founder of Crypto Finance AG.
Brzezek will continue to lead the company with him still holding a substantial amount of shares, but 2/3rd of shares have been acquired by Deutsche Börse for “the moderate three-digit CHF million range.”
“Crypto Finance perfectly complements our latest offerings such as 360X, the innovative DLT-based platform for the creation of serial marketplaces, as well as the centrally cleared crypto ETNs that we are leading the way,” said Thomas Book, Director of Trading & Clearing at Deutsche Börse.
Germany has listed numerous bitcoin and ethereum ETNs with just one of them recently surpassing one billion.
They are in addition lifting a restriction on special funds which will be able to invest up to 20% of their holdings into cryptos like bitcoin and eth.
“The aim is to build a neutral, transparent and highly scalable digital asset ecosystem under European regulation,” Deutsche Börse said of the acquisition.