Crypto Finance Licensed for Deutsche Börse Crypto Exchange

Crypto Finance, a wholly owned subsidiary of Deutsche Börse, has been granted four significant licences by Germany’s financial regulator, BaFin, at a time, enabling it to position itself as a critical constituent of the impending institutional crypto exchange to be launched by its parent company.

Additionally, the licenses granted enable the company to provide trading, settlement, and custody services for regulated digital assets in Germany, which is in addition to the Swiss legal approval it already has. It comes amid the Deutsche Börse gearing up for the launch of the DBDX exchange slated for this year, directed at the institutional investors.

This shows our pledge to transparency and security, says Crypto Finance CEO Stijn Vander Straeten, in emphasis of them as a reliable player in crypto. The digital asset secured D7 registry created by another subsidiary of Deutsche Börse is also expected to be incorporated in the new exchange.

Securing these licences allows Crypto Finance to meet the requirements of the proposed Markets in Crypto-Assets (MiCA) regulations, hence consolidating its place in the dynamic regulatory environment. This news coincides with BaFin’s earlier approval of Deutsche Bank for crypto custody, Boerse Stuttgart Digital House for crypto custody and denial of Binance’s application.

Also read: MEXC Exchange Imposes KYC Restrictions on Chinese Users

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