Clearstream plans to offer Bitcoin and Ether custody and settlement services to its 2,500 institutional clients starting April.
Clearstream, the central securities depository arm of Deutsche Börse Group, will launch cryptocurrency custody and settlement services for institutional clients starting April, Bloomberg reports, citing executive at the company. The Luxembourg-headquartered depository will initially support Bitcoin (BTC) and Ethereum (ETH), with plans to expand into other cryptocurrencies and services like staking, lending, and brokerage.
According to the report, Clearstream’s 2,500 clients will be able to access these services through their accounts with Clearstream Banking SA, while the offering itself will be facilitated by Crypto Finance, a majority-owned subsidiary acting as a sub-custodian.
Commenting on the launch, Jens Hachmeister, head of issuer services and new digital markets at Clearstream said that with the offering, the company is creating a “one-stop shop around custody, brokerage and settlement,” adding that this could extend to stablecoins and tokenized securities in the future.
Crypto Finance CEO Stijn Vander Straeten says there’s been “very high demand” for crypto from international banking clients, pointing out that firms typically spend up to €5 million to develop in-house crypto capabilities.
The move comes as major financial institutions expand their presence in the crypto space, supported by regulations like the E.U.’s Markets in Crypto-Assets, or MiCA framework, which took effect last year.
For instance, the second-largest Spanish financial institution by volume of assets, BBVA, is also set to roll out a new crypto trading service in Spain, allowing customers to buy and manage Bitcoin and Ethereum.
As crypto.news reported, customers in Spain will be able to manage their crypto transactions alongside their regular banking activities, the banks says. BBVA will use its own custody platform for cryptographic keys without relying on third-party providers.
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