BaFin Grants Licenses to Crypto Finance, a Deutsche Börse Subsidiary
Germany’s financial regulator, BaFin, has issued four licenses to Crypto Finance, a company operated by leading stock exchange Deutsche Börse. These licenses allow Crypto Finance to provide regulated digital asset trading, settlement, and custody services in Germany. The Swiss Financial Market Supervisory Authority (FINMA) already regulates the company. Stijn Vander Straeten, CEO of Crypto Finance Group, expressed excitement about the licenses and emphasized that they set their offering apart due to the exceptionally high standards they meet.
Crypto Finance primarily targets institutional investors and aims to strengthen its position within the crypto ecosystem through these licenses. In 2021, Deutsche Börse acquired a majority stake in Crypto Finance, enabling it to offer clients direct access to digital asset services. These licenses come at a crucial time as Europe prepares to implement the Markets in Crypto Assets (MiCA) directive.
Deutsche Börse’s Plans for a Crypto Exchange
In line with upcoming regulatory changes in Germany, Deutsche Börse is planning to launch a crypto exchange called DBDX. This move aims to establish a trusted market infrastructure for the crypto space. The announcement of DBDX’s launch was made in November 2023, with plans for it to go live this year. Additionally, Deutsche Börse intends to introduce a regulated stablecoin to facilitate seamless trading of digital assets.
Börse Stuttgart, a smaller competitor, already operates a retail-focused crypto exchange called ‘BSDEX’ that also offers institutional custody services.
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