Banking

Deutsche Börse acquires Swiss digital assets firm Crypto Finance

Deutsche Börse Group has acquired a majority stake in Crypto Finance, a Swiss fintech offering trading and investment in digital assets to institutions.

“Digital assets will transform the financial industry,” says Börse exec

According to Deutsche Börse, the acquisition will extend its offering for digital assets and provide a “direct entry point” for investments.

The price of the acquisition is undisclosed, but described as a “moderate three-digit million range” in Swiss francs.

Deutsche Börse will hold a two-thirds majority in the 2017-founded fintech. The remaining shares remain with existing investors, including CEO Jan Brzezek.

Crypto Finance claims to provide 24-hour trading and brokerage of more than 200 digital assets via a “highly secure” in-house custody solution.

Deutsche Börse plans to make Crypto Finance’s offering easily accessible for participants via its established platforms.

It says the goal is to establish a “neutral, transparent, and highly scalable digital asset ecosystem” under European regulation.

“Digital assets will transform the financial industry,” says Thomas Book, executive member for trading and clearing at Deutsche Börse.

“There is increasing demand from established financial institutions who are looking to become active in this new asset class and want a trusted partner.”

The transaction is expected to close later this year.


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