In Brief:
- Deutsche Börse Group purchased a major share in Swiss fintech startup Crypto Finance AG.
- Crypto Finance AG offers over 200 digital assets for trading, storage, and investment.
- Eric Leupold appointed as a Chairman of the Board of Directors.
Deutsche Börse Group, a German exchange operator, announced on Thursday that it had completed the purchase of a majority share in Swiss fintech startup Crypto Finance AG. Eric Leupold was appointed as a Chairman of the Board of Directors.
Crypto Finance AG offers over 200 digital assets for trading, storage, and investment to institutional and professional clientele. The Zug-based corporation is regulated by the Swiss regulator, Financial Market Supervisory Authority (FINMA).
The agreement, which was first signed in June, would allow Deutsche Börse to provide a direct entry point for digital asset investments as well as post-trade services like custody.
Crypto Finance’s CEO and co-founder Jan Brzezek, as well as the current management team, will continue to run the company and maintain a significant stake in it, according to a news release. The company will continue to operate as a distinct corporation, with its key customers being banks, asset managers, fintech, and other financial intermediaries.
“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,” according to Eric Leupold, Head of Cash Market at Deutsche Börse.
It’s just been two months since Deutsche Börse and Commerzbank announced a joint investment in fintech 360X in October. The partnership aims to build a blockchain-based digital marketplace for digital art and real estate asset classes.
It was just this Monday when the State fund of Abu Dhabi, Mubadala invested in a cryptocurrency ecosystem like blockchain technology as per CEO Mubarak. He said he has no doubt about the growth of crypto in the near future.
Crypto Finance’s CEO and co-founder, Jan Brzezek, stated, “established financial institutions increasingly want to start investing in digital assets and are looking for a trustworthy partner.”
He further added by saying, “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.”
