- Deutsche Börse’s Clearstream to launch crypto custody services in April through partnership with Crypto Finance
- Initial offering will focus on Bitcoin and Ether custody for institutional clients
- Move builds on Deutsche Börse Group’s growing digital asset initiatives, including €20 billion in digital securities issuance
Deutsche Börse’s post-trade services arm Clearstream is expanding into cryptocurrency custody, announcing plans to offer institutional-grade digital asset services beginning April 2024 through a partnership with its sister company Crypto Finance.
The strategic expansion comes as Crypto Finance’s German division recently secured a MiCAR license, enabling the firm to provide cryptocurrency services across European markets. The development marks a significant milestone for Deutsche Börse Group, which acquired a majority stake in Crypto Finance for over €100 million in 2021.
Jens Hachmeister, Head of Issuer Services & New Digital Markets at Clearstream, emphasized the strategic importance of the move, stating: “Offering crypto custody is the next step on Clearstream’s journey to digitise financial markets. The institutional-grade, regulatory compliant solution offers clients easy and quick access to new asset classes while enjoying the best features of our trusted and established post-trading systems.”
The initial rollout will enable Clearstream’s International Central Securities Depository (ICSD) clients to custody Bitcoin and Ether through their existing Clearstream Banking SA accounts in Luxembourg, streamlining access to digital assets for institutional investors.
This initiative builds upon Deutsche Börse Group’s expanding digital asset ecosystem. The group launched Deutsche Börse Digital Exchange (DBDX) last year, operating a request-for-quote (RFQ) model for cash cryptocurrency trading, with custody services provided by Crypto Finance.
Deutsche Börse’s commitment to digital innovation is further evidenced by Clearstream’s D7 platform, which has facilitated over €20 billion in digital securities issuance, primarily through centralized CSD operations. The group has also made significant strides in digital infrastructure through its investment in digital collateral platform HQLAᵡ, while its Eurex Clearing division recently received approval to utilize digital collateral for margin requirements.
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