Major Exchange Organization Deutsche Börse Group Makes Acquisition to Expand Its Digital Asset Offering

German stock exchange organization Deutsche Börse Group has announced the acquisition of a majority stake in the Swiss financial technology company Crypto Finance AG.

Deutsche Börse announced in a press release Tuesday that it had acquired 2/3 of the controlling stake in Crypto Finance AG, founded in 2017. While there were no exact figures on the amount paid by Deutsche Börse, it was indicated that it could be more than 100 million Swiss francs.

We are excited to announce that Crypto Finance will join the @DeutscheBoerse AG. We share a common mission to connect the financial world and accelerate the adoption of digital assets for institutional investors.
Read from our CEO and Founder @JanBrzezek:https://t.co/wvZUtSwgjZ

— Crypto Finance (@CryptoFinanceAG) June 29, 2021

Crypto Finance AG, regulated by Swiss financial regulator FINMA, offers its corporate and professional clients investment instruments for more than 200 digital assets. The company also provides its clients with trading and custody services.

In addition, it will create the opportunity for professional and institutional clients to invest directly in digital assets without having to build their own infrastructure and operating systems.

In turn, Deutsche Börse will provide a "direct entry point" for investments in digital assets (cryptocurrencies) through Crypto Finance AG. The services the company will provide will additionally include post-processing services, including storage. 

Deutsche Börse also announced that Jan Brzezek, founder of Crypto Finance AG, will continue to serve as CEO.

Thomas Book, a member of Deutsche Börse's Trading and Clearing Council, is confident that digital assets will change the financial industry. In his view, there is a growing demand from established financial institutions to use this new asset class.

We are now the majority shareholder of @CryptoFinanceAG! Through the acquisition, we further extend our offering for digital assets by providing a direct entry point for investments, including post-trade services such as custody. Learn more: https://t.co/trpKqOPbGa pic.twitter.com/OOJDI31Wub

— Deutsche Börse Group (@DeutscheBoerse) June 29, 2021

The parties are expected to finalize the deal between them in the last quarter of this year after expected regulatory approval.