The exchange said the deal extends its offering for digital assets by providing a direct entry point for investments, including custody.
Deutsche Börse Group said it has agreed to buy a two-thirds stake in Crypto Finance AG for more than $108.6 million, moving the Germany-based exchange deeper into the cryptocurrency asset class by allowing it to now offer custody and other crypto-related services to institutional and professional clients.
- Deutsche Börse said its investment was in the “moderate” three-digit Swiss franc million range. Given that 100 million Swiss francs are currently valued at USD $108.6 million, the price has to be at least that much.
- The exchange said the deal extends its offering for digital assets by providing a direct entry point for investments, including post-trade services such as custody.
- Switzerland-based Crypto Finance offers 24/7 trading and brokerage of more than 200 digital assets in combination with in-house custody.
- Through connections to a variety digital asset venues worldwide, Crypto Finance bridges the problem of liquidity fragmentation in the market, Deutsche Börse said. Professional and institutional clients can directly invest in digital assets, without having to set-up their own infrastructure and operational frameworks, the exchange said.