Deutsche Börse’s subsidiary, Crypto Finance, has achieved a significant milestone with the acquisition of four pivotal licences from the German financial supervisory authority, BaFin. This progression sets the stage for the company to play an integral role in the upcoming launch of its parent company’s institutional cryptocurrency trading platform.
The award of these licences authorizes Crypto Finance to facilitate trading, settlement, and custodial services for lawful digital assets within Germany, a privilege that augments its existing Swiss regulatory consent. The development arrives as Deutsche Börse prepares to inaugurate the DBDX exchange this year, targeting institutional clientele with its services. You can learn more about the launch by visiting this link.
Crypto Finance’s CEO, Stijn Vander Straeten, remarks on this milestone, highlighting the company’s commitment to transparency and robust security as a testament to its dependability in the crypto sphere. Additionally, the new exchange will benefit from the incorporation of the digital asset D7 registry developed by a sister company of Deutsche Börse.
The procurement of these authorizations by Crypto Finance prepares the firm for compliance with the upcoming Markets in Crypto-Assets (MiCA) regulatory framework, thereby solidifying its position within the evolving legislative landscape of digital currencies. This news occurs in tandem with BaFin’s recent concessions, including crypto custody approvals to Deutsche Bank and Boerse Stuttgart Digital Exchange, and the rejection of the application by Binance.
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