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$28.4 Billion Deutsche Börse to Create Digital Asset Ecosystem with Crypto Finance AG

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Thu, 12/16/2021 - 10:31
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Yuri Molchan
Deutsche Börse Group, a major marketplace for shares and other securities in Germany, has completed deal to acquire majority stake in Crypto Finance AG
$28.4 Billion Deutsche Börse to Create Digital Asset Ecosystem with Crypto Finance AG
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Leading stock exchange operator Deutsche Börse Group, based in Germany, with a market capitalization of $28.4 billion, has completed the acquisition of the majority stake in the FINMA-regulated firm Crypto Finance AG based in Zug, Switzerland. The latter provides services in crypto custody, trading and other services for crypto assets.

The acquisition deal on the merger is completed

As reported by U.Today earlier this year, the deal was started back in June and was due to be completed in mid-December. Now, the moment has come and the acquisition of the majority stake in the company has been completed.

Together, the companies plan to create an ecosystem for trading, investment and post trade of digital assets in Europe, which will be regulated by European watchdogs.

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Setting up a regulated crypto assets ecosystem in EU

Deutsche Börse Group's customers will now be able to seamlessly access services related to crypto assets. Besides, Crypto Finance will utilize a network of clients and the infrastructure of Deutsche Börse to expand its team, as well as a portfolio of products and services.

The company now plans to expand in Europe, keeping its focus on Germany, as well as to expand in Asia and Singapore.

The current chairman of the Crypto Finance Board, Dr. Tobias Reichmuth, has resigned, and Eric Leupold, chief of the Cash Market at Deutsche Börse, has been appointed to that position.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.