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Deutsche Börse’s Subsidiary Crypto Finance Gets BaFin License

Germany’s financial regulatory authority, BaFin, has granted four licenses to Crypto Finance, a company operated by the prominent stock exchange Deutsche Börse.

These licenses enable Crypto Finance to conduct regulated activities such as digital asset trading, settlement, and custody services within Germany. The firm is already regulated by the Swiss Financial Market Supervisory Authority (FINMA), as announced on Monday.

Stijn Vander Straeten, CEO of Crypto Finance Group, expressed excitement about the BaFin licensing, emphasizing the company’s adherence to high standards. He stated, “We are excited that Crypto Finance (Deutschland) GmbH is now licensed by BaFin. It distinguishes our offering as one of the few to meet these exceptionally high standards.”

With a focus on institutional investors, Crypto Finance aims to solidify its position in the crypto ecosystem through these licenses.

In 2021, Deutsche Börse acquired the company, securing a majority stake and subsequently offering its clients direct access to digital asset services, including post-trade services.

These licenses arrive amidst Europe’s preparations to implement the Markets in Crypto Assets (MiCA) directive, a significant development in the region’s regulatory landscape. In October 2023, European officials enacted the MiCA framework into law, alongside a complementary legislation aimed at combating money laundering in the realm of crypto assets.

Eric Viohl, Managing Director of Crypto Finance, highlighted the company’s dedication to covering the entire value chain and expressed pride in achieving significant milestones in Germany by offering highly regulated services.

Deutsche Börse’s Crypto Exchange

The German multinational is poised to enter the crypto market with the launch of DBDX, a crypto exchange aimed at providing a trusted market infrastructure. Deutsche Börse disclosed these plans in November 2023 and confirmed that DBDX will debut later in the same year.

This strategic move is in line with Germany’s forthcoming regulatory adjustments in the crypto sphere. Additionally, Deutsche Börse intends to introduce a regulated stablecoin to streamline the trading of digital assets.

Meanwhile, its smaller competitor, Börse Stuttgart, operates BSDEX, a retail-focused crypto exchange that also offers institutional custody services.

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Cryptocurrency is essentially virtual money that operates in a decentralized manner, not through a bank but directly on multiple independent computers.

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