The renowned Deutsche Börse Group has announced the acquisition of a majority stake in Crypto Finance AG, a Swiss FinTech business. Institutional and professional clients can invest in, custody, and trade digital assets through the FINMA-regulated Swiss company.

The Deutsche Börse Group said that it has agreed to purchase a two-thirds share in Crypto Finance AG for more than $108.6 million, bringing the German exchange even closer to the cryptocurrency asset class.

The investment was in the moderate three-digit Swiss franc million range, according to the firm. Although the exact details of the deal aren’t available, The current value of 100 million Swiss francs is $108.6 million, therefore the price must be at least that much.

Crypto Finance solves the market’s liquidity fragmentation problem. According to the exchange, professional and institutional clients may invest directly in digital assets without needing to create their infrastructure and operational frameworks.

Related: Bank of France announces completion of CBDC experiment with SEBA

Deutsche Börse said its goal is to create a neutral, transparent, and highly scalable digital asset ecosystem under European regulation.

This deal is a win-win situation for both companies. Crypto Finance can surge further as its now a part of the Deutsche Börse Group, while also extending its variety of digital asset services. Thomas Book, Executive Board member at Deutsche Börse said:

We are excited that Crypto Finance is joining the Group. The team is an ideal strategic fit and will help us tremendously on our way to building a trusted and fully regulated digital asset ecosystem for institutional investors in Europe. Crypto Finance perfectly complements our recent offerings like 360X, the innovative DLT-based platform for serial marketplace creation, and our leading, centrally-cleared crypto ETNs.

A few weeks back, CoinShares, a London-based cryptocurrency investment fund, became the issuer of crypto exchange-traded notes (ETNs) on Deutsche Boerse’s Xetra market. CoinShares Physical Bitcoin, CoinShares Physical Ethereum and CoinShares Physical Litecoin are available for investors via Xetra and Börse Frankfurt.

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