{"id":71237,"date":"2024-02-12T18:56:55","date_gmt":"2024-02-12T22:56:55","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=71237"},"modified":"2024-02-12T19:00:23","modified_gmt":"2024-02-12T23:00:23","slug":"crypto-finance-receives-4-licenses-from-german-regulator-bafin","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/crypto-finance-receives-4-licenses-from-german-regulator-bafin\/","title":{"rendered":"Crypto Finance Receives 4 Licenses From German Regulator BaFin"},"content":{"rendered":"\n

BaFin, the German Federal Financial Supervisory Authority, has granted four licenses to the German subsidiary of Crypto Finance. As its parent company, Deutsche B\u00f6rse<\/a> prepares to establish a digital exchange.<\/p>\n\n\n\n

\"Crypto
Crypto Finance Receives 4 Licenses From German Regulator BaFin<\/figcaption><\/figure>\n\n\n\n

Crypto Finance (Deutschland) is a provider of investment products, custody, and trading in digital assets that meet the standards of institutions. The Swiss Financial Market Supervisory Authority, or FINMA, has jurisdiction over it. <\/p>\n\n\n\n

An announcement states that the German licenses will enable the company to provide regulated digital asset trading, settlement, and custody services to institutions in Germany.<\/p>\n\n\n\n

In 2021, Deutsche B\u00f6rse completed the acquisition of a majority stake in Crypto Finance Group\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, a Swiss company. Already present on the SIX exchange in Switzerland, where it debuted the inaugural Swiss crypto asset investment fund, Crypto Finance provides its products.<\/p>\n\n\n\n

Deutsche B\u00f6rse declared its intention to establish a cryptocurrency exchange catering to institutional users in November. Launching this year, the new exchange is reportedly named DBDX. Regarding the BaFin approvals, Crypto Finance Group CCEO Stijn Vander Straeten stated:<\/p>\n\n\n\n

\n

\u201cThis 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.\u201d<\/em><\/p>\n<\/blockquote>\n\n\n\n

Therefore, the ecosystem of that new exchange is amenable to Crypto Finance's participation. Clearstream, a subsidiary of Deutsche Borse, established the digital asset securities registry D7, which is also anticipated to play a significant role in the new exchange.<\/p>\n\n\n\n

Crypto Finance has also positioned itself within the Markets in Crypto-Assets <\/a>(MiCA) regulatory framework, of which portions will go into effect in 2024 by obtaining BaFin licensing.<\/p>\n\n\n\n

\n

\ud83d\udca5LISTEN UP!!! ONE OF THE LARGEST EXCHANGE ORGANIZATIONS CONFIRMS DIGITAL ASSETS WILL COME THROUGH\ud83d\udca5
-Deutsche B\u00f6rse CEO confirms \ud83d\udc40
The timing is just unclear!
-But he mentions 2026 strategy\ud83d\ude4f\ud83c\udffd$AGIX<\/use><\/svg><\/span><\/a> $QNT<\/use><\/svg><\/span><\/a> $XRP<\/use><\/svg><\/span><\/a> $HBAR<\/use><\/svg><\/span><\/a> $CSPR<\/use><\/svg><\/span><\/a> pic.twitter.com\/93NYdVsW7c<\/use><\/svg><\/span><\/a><\/p>— Cypress Demanincor (@CDemanincor) November 21, 2023<\/use><\/svg><\/span><\/a><\/blockquote>

The Frankfurt Exchange, under the ownership of Deutsche B\u00f6rse, is the operator of the Deutsche B\u00f6rse Xetra digital exchange.<\/p>\n\n\n\n

BaFin denied Binance's application for a cryptocurrency custody<\/a> license in June 2023, a brief time after granting Deutsche Bank approval for the identical purpose.<\/p>\n\n\n\n

It granted Boerse Stuttgart Digital Blocknox custody approval in March. Boerse Stuttgart is a competitor of Deutsche Borse. In November, it also authorized BitGo, based in the United States, for cryptocurrency custody.<\/p>\n","protected":false},"excerpt":{"rendered":"

BaFin, the German Federal Financial Supervisory Authority, has granted four licenses to the German subsidiary of Crypto Finance. As its parent company, Deutsche B\u00f6rse prepares to establish a digital exchange. Crypto Finance (Deutschland) is a provider of investment products, custody, and trading in digital assets that meet the standards of institutions. The Swiss Financial Market […]<\/p>\n","protected":false},"author":12,"featured_media":71240,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[6209,934,950,4538],"class_list":["post-71237","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-license-2","tag-bafin","tag-crypto-finance","tag-deutsche-borse"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/02\/image-29.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/71237","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=71237"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/71237\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/71240"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=71237"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=71237"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=71237"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}