Deutsche Börse to Launch Crypto Services in 2025, Driven by EU’s MiCA Framework

Deutsche Börse, through its post-trade unit Clearstream, is set to launch cryptocurrency settlement and custody services for institutional clients in 2025. This initiative marks a significant entry into the digital asset infrastructure by a major European financial firm. Clearstream will initially support Bitcoin and Ethereum, with plans to expand its offerings to include additional cryptocurrencies, stablecoins, and tokenized securities. The platform will leverage its majority-owned subsidiary, Crypto Finance, as a sub-custodian for digital assets.

Clearstream's new service will provide institutional investors with secure settlement and custody solutions for digital assets. The offering, set to launch in April, will allow clients to choose Clearstream as a custody and settlement location for cryptocurrency trading activity concluded 24/7 on various trading venues. This initiative is part of a broader trend of traditional financial firms increasing their exposure to digital assets, driven by evolving regulatory clarity in regions such as the European Union.

The EU’s Markets in Crypto-Assets (MiCA) framework, which came into effect last year, has paved the way for banks and financial institutions to integrate crypto into their services. Clearstream's move is in line with this regulatory shift, as it aims to provide a compliant solution for institutional clients. The company’s central securities depository will allow clients to access its crypto custody and settlement services through their existing Clearstream Banking SA accounts.

Clearstream plans to expand its offerings over time to include staking, lending, and brokerage services. Jens Hachmeister, head of issuer services and new digital markets at Clearstream, stated that the move will eventually allow the company to provide services for stablecoins and tokenized securities as well. This expansion is driven by the surging institutional interest in cryptocurrencies, particularly following the implementation of MiCA.

Clearstream's entry into the crypto custody market is not its first foray into digital assets. Last year, BaFin, Germany’s financial regulator, issued four licenses to Crypto Finance, a firm operated by Deutsche Börse. Subsequently, in March, the German stock exchange launched a regulated spot platform for crypto assets targeting institutional clients. The platform, dubbed the Deutsche Börse Digital Exchange (DBDX), offers a fully regulated ecosystem for the trading, settlement, and custody of crypto assets. In July, the firm also listed the Bitcoin Macro exchange-traded product (ETP) on the Deutsche B