Clearstream to Launch Crypto Custody Services for Institutional Clients
Clearstream, a subsidiary of Deutsche Börse, is gearing up to introduce crypto custody services specifically designed for institutional clients. As Europe’s third-largest stock exchange, Deutsche Börse’s foray into the digital asset space marks a significant milestone in the company’s growth.
Key Highlights:
- The service will initially support Bitcoin and Ethereum, with plans to include more cryptocurrencies in the future.
- Access to the custody and settlement service will be available to institutional clients starting in April.
- Clearstream will utilize its majority-owned subsidiary, Crypto Finance, for sub-custody of digital assets.
Regulatory Approval and Compliance
Clearstream attributes the groundwork for this expansion to Crypto Finance, which secured a Markets in Crypto-Assets (MiCA) framework license. This approval allows the firm to operate across Europe, bolstering its regulatory position.
MiCA sets a standardized regulatory framework for digital assets within the European Union, striving to streamline compliance measures.
Comprehensive Crypto Solutions
Jens Hachmeister, overseeing issuer services and new digital markets at Clearstream, highlights the company’s commitment to becoming a full-service provider of crypto custody, brokerage, and settlement solutions. He states:
“The institutional-grade, regulatory compliant solution offers clients easy and quick access to new asset classes while enjoying the best features of our trusted and established post-trading systems.”
Hachmeister also hints at Clearstream’s readiness for forthcoming stablecoins and tokenized securities advancements.
Deutsche Börse’s Digital Asset Strategy
This move aligns with Deutsche Börse’s broader initiatives in the digital asset sector. Recently, the German stock exchange launched a regulated spot trading platform for crypto, targeting institutional investors.
Stijn Vander Straeten, CEO of Crypto Finance Group, underscores these efforts as reinforcing Deutsche Börse Group’s position in the digital asset realm. He notes the seamless integration of direct crypto services with traditional financial systems, facilitating institutional access to the crypto market.
Mentioned in this article
