The subsidiary Crypto Finance can now offer a broad array of crypto services.
Deutsche Börse Group’s digital asset subsidiary, Crypto Finance, has obtained its European Markets in Crypto Assets Regulation (MiCAR) license.
The company’s German subsidiary now has the green light to offer a broad array of crypto services. Custody of crypto assets, exchange of crypto assets for fiat currencies, exchange of crypto assets for other crypto assets, transfer services for crypto assets and order execution—are all now available to its institutional client base.
Crypto Finance is one of the early recipients of the license, part of a regulatory push from the European Union to implement uniform market rules for crypto assets across the bloc.
The European Commission’s Digital Finance Strategy entered into effect in June 2023 with the aim of establishing a regulatory framework for specific activities relating to crypto assets that are not yet addressed by E.U. law. These include the issuance of crypto-assets, custody and administration of crypto-assets, and the operation of crypto-asset trading platforms and exchanges.
After applying for the initial licenses in January 2024, Germany’s integrated financial regulator, the Federal Financial Supervisory Authority, bestowed the license this month.
Crypto Finance is hoping the certification will help to strengthen its position in the rapidly evolving crypto field. With growing institutional demand in Europe for a more robust and secure infrastructure for digital assets, more firms are likely to follow suit.
Need a Reprint?