Crypto Finance Deutschland Secures German Crypto Trading Approvals

Crypto Finance's German arm nets four key licenses from financial supervisor for digital asset services, strengthening parent's regulated European ecosystem offerings.

Key Insights

  • Crypto Finance unit secures four German licenses from regulator BaFin for trading, custody
  • Permits strengthen parent Crypto Finance AG’s regulated services across European expansion
  • CEO says shows commitment to transparency and security in developing crypto ecosystem

ZURICH (MarketsXplora) – Crypto Finance AG said on Monday its German subsidiary gained four licences from regulator BaFin, strengthening the Swiss crypto financial services group’s European expansion drive.

The new German permits allow Crypto Finance Deutschland to provide institutional investors regulated trading as well as settlement and custodial services for digital assets, the Swiss firm said.

As well targeting professional clients, it “sets us apart and we are now proud to be able to achieve significant milestones in Germany, where we offer highly regulated services,” said Germany head Eric Viohl.

Part of Deutsche Boerse, Crypto Finance last year opened new offices in Paris along with Oslo and hopes eventually to capture growing investment interest in the emerging crypto asset class.

Chief Executive Stijn Vander Straeten in July predicted possible stock market turbulence and rising inflation could prompt more institutional investors to allocate funds to cryptocurrencies and so-called stablecoins.

“We are excited that Crypto Finance (Deutschland) GmbH is now licensed by BaFin (as) one of the few (companies) to meet these exceptionally high standards,” Straeten said of the Germany move.

“This demonstrates our commitment to transparency and security but also positions us as a trusted entity in the market, contributing to the development of a reliable ecosystem for crypto assets.”

Regulators globally have ramped up oversight of the freewheeling crypto sector amid worries over consumer protection and links to crime as well as hacks at major exchanges.

Crypto Finance says its emphasis on compliance helps it win institutional business from hedge funds, other asset managers as well as family offices handling wealth for individuals.

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