Deutsche Börse AG Includes Crypto in its Upcoming Strategic Priorities: A Look at 'Horizont 2026' Plan
Summary:
Deutsche Börse AG, the Frankfurt-based German stock exchange, aims to expand its leadership in digital platforms for existing and new asset classes, including cryptocurrencies, according to its strategic outline “Horizont 2026”. The company plans to expedite the development of its blockchain-backed D7 digital securities registry and build a trading platform for digital assets exclusive for institutional investors. This platform will facilitate tokenization, trading, settlement, and custody services for securities, alternative assets, and cryptocurrencies.
Frankfurt-based German stock exchange, Deutsche Börse AG, has integrated cryptocurrency as a significant component of its future strategy. In the “Horizont 2026” strategic outline published on Nov. 7, the firm expressed its intent to broaden its dominance in digital platforms catering to old and new asset categories. Deutsche Börse perceives promising growth possibilities through technological advancement, driven by the digitization of traditional and emerging asset classes. Consequently, it plans to expedite the evolution of its blockchain-powered D7 digital securities registry and establish a trading platform for digital assets. Similar Read: Third-biggest German bank, DZ Bank, to launch crypto custodial services for institutional investors. The proposed digital asset platform would exclusively cater to institutional investors, providing tokenization, trading, settlement, and custody services for securities, unconventional assets, and cryptocurrencies. Although the document also refers to stablecoins and central bank digital currencies (CBDCs), their precise role on the prospective platform remains unclear. Deutsche Börse is not the first stock exchange to venture into digital asset trading. In April 2022, Boerse Stuttgart, Germany's second-largest stock exchange, introduced cryptocurrency trading for its customers. The London Stock Exchange Group plans to offer clearing services for cash-settled Bitcoin index futures and options contracts in dollars in 2024. Deutsche Börse's previous experience with cryptocurrencies include the listing of a Litecoin exchange-traded product (ETP) from London-based ETC Group on its digital exchange, Deutsche Börse Xetra, in 2021. Concurrently, Janice, the widow of John McAfee, declared bankruptcy and sought explanations two years after his demise.
Published At
11/9/2023 10:51:56 AM
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