Crypto Finance Obtains BaFin Licenses to Expand in European Market
Switzerland-based crypto brokerage firm Crypto Finance has received four licenses from Germany’s BaFin, signaling its intention to strengthen its presence in the European market. The licenses granted by the German Federal Financial Supervisory Authority enable Crypto Finance’s local subsidiary to provide regulated digital asset trading, settlement, and custody services in Germany.
“We are excited that Crypto Finance (Deutschland) GmbH is now licensed by BaFin, the highest benchmark in regulatory oversight, as a crypto custody provider in Germany.”
– Crypto Finance Group CEO Stijn Vander Straeten
In 2021, Deutsche Börse acquired a majority stake in Crypto Finance to expand its crypto offerings, particularly custody services. The investment was driven by the increasing interest of established financial institutions in the emerging asset class. The transaction details were not disclosed.
Crypto Finance, founded in 2017, offers brokerage services for over 200 cryptocurrencies, including Bitcoin and Ethereum. The company has raised more than $41 million in funding rounds.
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