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Clearstream the central securities depository arm of Deutsche Börse Group is set to revolutionize the financial landscape by offering cryptocurrency custody and settlement services starting April. This initiative will enable 2,500 institutional clients to manage Bitcoin and Ethereum through their existing accounts with Clearstream Banking SA. Crypto Finance a majority-owned subsidiary will act as a sub-custodian facilitating these operations.
Expansion plans are ambitious as Clearstream aims to include additional cryptocurrencies and introduce services such as staking lending and brokerage. Jens Hachmeister head of issuer services and new digital markets at Clearstream mentioned that the firm intends to develop a comprehensive one-stop shop that may soon incorporate stablecoins and tokenized securities.
The announcement has stirred considerable interest among international banking clients with Crypto Finance CEO Stijn Vander Straeten revealing that there is very high demand for crypto services. This demand underscores the significant investment firms are willing to make to integrate crypto solutions which can reach up to €5 million for in-house development.
