Deutsche Börse Group’s post-trade business Clearstream has enhanced its custody service portfolio to include crypto assets.
Stijn Vander Straeten
Through the use of Crypto Finance as sub-custodian – also a Duetsche Börse Group company – Clearstream will rely on its expertise to provide institutional investors with settlement and custody services in crypto assets.
The move follows Crypto Finance receiving its MiCAR license in January, which allows the company to serve clients across Europe. The new offering is set to launch in April 2025.
“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.”
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Clients of Clearstream’s International Central Securities Depository (ICSD) can now use their existing accounts in Clearstream Banking to access crypto currency custody and settlement.
No additional direct contractual, technical and functional relationship with crypto currency service providers is required, the firms stated.
Bitcoin and Ethereum are the first crypto assets provided through Clearstream’s offering. Additional crypto currencies will be considered, following client demand.
“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,” said Stijn Vander Straeten, chief executive of Crypto Finance Group.