Deutsche Börse, a German exchange firm, has announced the acquisition of a major stake in Crypto Finance AG.
The deal is expected to be signed in June and opens an opportunity for investment in digital assets such as post-trade services like custody for the exchange.
The Swiss-based company’s CEO and co-founder, Jan Brzezek, and the management team would retain their positions and stake in the acquisition deal.
Crypto Finance would continue as an autonomous brand offering services to its customer base. Deutsche Börse’s head of cash markets, Eric Leupold, says that the deal would enable the exchange to enter the digital market segment.
The fintech firm provides cryptocurrency trading services, custody, and investments tools across more than 200 digital assets for institutional clients. The Swiss Financial Market Supervisory Authority regulates the company.
The announcement follows Deutsche Börse’s partnership with Commerzbank in October to invest in fintech 360X to create a blockchain-based digital marketplace.