Clearstream and Crypto Finance, both members of Deutsche Börse Group, have announced the facilitation of digital asset access with a new crypto custody offering.
The new service is expected to launch in April, following Crypto Finance obtaining the MiCAR license in January this year, enabling the servicing of European clients while securing regulatory leadership.
“Offering crypto custody is the next step on Clearstream’s journey to digitise financial markets,” said Jens Hachmeister, head of issuer services and new digital markets at Clearstream.
“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,” he added.
Together, Clearstream and Crypto Finance are aiming to craft a new standard for crypto asset management, harmonising digital financial markets through their collaboration, the pair said.
“This offering puts Deutsche Börse Group in a position second to none in the digital assets industry,” said Stijn Vander Straeten, CEO at Crypto Finance Group.
“We are now not only covering native services via direct interface, but also leverage traditional rails that are implemented with most financial market participants, meaning a very convenient offering to any financial institution who wishes to enter the crypto industry,” he added.
Clients of Clearstream’s International Central Securities Depository can now use their existing accounts in Clearstream Banking S.A. (Luxembourg, CBL) to access crypto currency custody and settlement.
Moreover, no additional direct contractual, technical, and functional relationship with crypto currency service providers is required.
