Priya PatelTLDR: Crypto Finance AG, a subsidiary of the Deutsche Börse Group, has obtained four licenses from the German Federal Financial Supervisory Authority, BaFin. The licenses cover regulated digital asset trading, settlement, and custody services in Germany. This strengthens Crypto Finance’s position within the regulated European digital asset value chain and emphasizes its commitment to offering institutional-grade services within regulatory frameworks. BaFin has pledged to expedite its licensing process for crypto custody services to foster trust in the volatile crypto market.
Crypto Finance AG, a part of the Deutsche Börse Group, has obtained four licenses from the German Federal Financial Supervisory Authority (BaFin). The licenses cover regulated digital asset trading, settlement, and custody services in Germany. The licenses were secured by Crypto Finance’s subsidiary, Crypto Finance (Deutschland) GmbH. This development further strengthens the company’s position within the regulated European digital asset value chain, highlighting its commitment to offering institutional-grade services within regulatory frameworks. Stijn Vander Straeten, the CEO of Crypto Finance Group, commented that obtaining these licenses distinguishes their offering as one of the few to meet exceptionally high standards set by BaFin.
The company’s comprehensive approach includes a one-stop-shop solution for digital assets, covering the entire value chain. Eric Viohl, the Managing Director of Crypto Finance (Deutschland) GmbH, emphasized their commitment to providing a seamless experience for institutional investors, going beyond trading to include settlement, custody, and post-trade services. These licenses mark significant milestones in Germany, where the company offers highly regulated services.
BaFin has pledged to expedite its licensing process for crypto custody services, aiming to foster trust in the volatile crypto market. The surge in crypto custody license applications in 2023 signals heightened demand for regulatory compliance. BaFin President Mark Branson announced the initiative during the Handelsblatt Banking Summit in Frankfurt. Branson emphasizes the importance of stringent oversight to mitigate risks associated with crypto assets. Despite rejecting Binance’s license application, BaFin remains focused on promoting consumer trust and market integrity. As BaFin accelerates licensing processes, it sets a precedent for regulatory frameworks across Europe. Branson asserts that robust regulation will cultivate consumer confidence and bolster market stability in the long term.
