Deutsche Börse, a marketplace organizer for the trading of shares and other securities, has acquired a two-thirds stake in Crypto Finance, a Swiss fintech. According to an announcement, Crypto Finance’s Founder, Jan Brzezek, and the current management team will continue to lead the company and retain significant personal holdings.
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Founded in 2017, the Swiss cryptocurrency firm provides trading, custodian, and investment services for both private and institutional investors. Through the acquisition, Crypto Finance will be able to further scale its business and expand the range of cryptocurrency services. A spokesperson for Deutsche Börse told Reuters the price of the deal was over 100 million Swiss francs (~$109 million).
Deutsche Börse started its cryptocurrency-related campaign in 2019 after the Frankfurt-based organization entered into a partnership with Swiss company Swisscom and Singapore-based fintech startup Sygnum to build a trusted digital ecosystem.
The main goal of the partnership was to jointly "build out and grow a trusted and regulatory compliant financial market infrastructure for digital assets."
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