Ethereum

2024

Bank AI

Read

Switzerland-based crypto brokerage firm Crypto Finance has obtained four licenses from Germany’s BaFin as it plans to double down on the European market. 
Digital asset brokerage firm Crypto Finance owned by multinational financial giant <a href="https://crypto.news/tag/deutsche-borse/" target="_blank" rel="noreferrer noopener">Deutsche Börse</a> has secured four licenses from the German Federal Financial Supervisory Authority (<a href="https://crypto.news/tag/bafin/" target="_blank" rel="noreferrer noopener">BaFin</a>) for its local subsidiary, the firm revealed in a Monday <a href="https://www.crypto-finance.com/announcement-crypto-finance-secures-four-bafin-licences-in-germany/" target="_blank" rel="noopener">blog post</a>. According to the announcement, the licenses pave the way for the subsidiary to offer regulated digital asset trading, settlement, and custody services in <a href="https://crypto.news/tag/germany/" target="_blank" rel="noreferrer noopener">Germany</a>. 
<blockquote class="wp-block-quote"> 
 “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 
</blockquote> 
 You might also like: <a href="https://crypto.news/germanys-dz-bank-to-run-crypto-trading-trial-in-2024/"> Germany’s DZ Bank to run crypto trading trial in 2024 </a> 
Deutsche Börse <a href="https://crypto.news/deutsche-borse-majority-stake-swiss-crypto-finance/" target="_blank" rel="noreferrer noopener">bought</a> a majority stake in the Switzerland-based fintech company in 2021 in a bid to extend its crypto offerings, including post-trade services such as custody. At the time, Thomas Book, an executive board member for Trading &amp; Clearing at Deutsche Börse, highlighted that the investment was prompted by a growing demand from established financial institutions seeking to engage in the emerging asset class. The specific terms of the transaction were not disclosed. 
Founded in 2017 by Jan Brzezek and Tobias Reichmuth, Crypto Finance offers brokerage services of more than 200 cryptocurrencies, including Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noreferrer noopener">BTC</a>) and Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="noreferrer noopener">ETH</a>). As of press time, the firm raised over $41 million in four funding rounds joined by Matthias Kroener and Lingfeng Capital as the most recent investors, <a href="https://www.crunchbase.com/organization/crypto-finance-6df5/company_financials" target="_blank" rel="noreferrer noopener">according</a> to Crunchbase. 
 Read more: <a href="https://crypto.news/deutsche-borse-ag-swisscom-sygnum-create-trusted-market-cryptoassets/"> Deutsche Börse AG, Swisscom, and Sygnum to create trusted market for crypto </a>

Deutsche Borse-acquired crypto broker secures German licenses

crypto.news

Other articles published on Feb 13, 2024

What is Tornado Cash Coin?

Historic Inflows: Spot Bitcoin ETFs Attract Over $1 Billion in a Single Week

Businesses Embrace Cloud-Based Generative AI for Strategic Advantages

Industry Seeks Clarity on India’s 2024 Tech Investment in Health

Missed Injective (INJ) and Kaspa (KAS) in 2023? Pullix (PLX) Set to be the Star for 2024

Bitcoin’s trading vol up by 104%, shorters bleed

Join our free newsletter for daily crypto updates!