German stockbroker Deutsche Börse Group has announced that it has acquired a majority stake in Swiss financial technology company Crypto Finance AG.
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In its press release, Deutsche Börse announced that it has acquired 2/3 of the control stake of Crypto Finance AG. It is said that the figure may be more than 100 million Swiss francs, although the German stock market does not disclose exactly how much it pays for it.
Crypto Finance AG offers its professional and institutional clients investment tools for more than 200 digital assets. The company also offers custody services.
Deutsche Börse will provide a “direct entry point” for investments in digital assets through Crypto Finance AG. It was also stated that the company will offer custody services to its customers.
Jan Brzezek, the founder of Crypto Finance AG, will remain as CEO despite the sale of shares.
Thomas Book, a Deutsche Börse executive, believes that digital assets will change the financial industry.
The deal is expected to be completed in the last quarter of this year.