Deutsche Boerse-backed Clearstream to offer custody for Bitcoin, Ethereum

Clearstream plans to offer Bitcoin and ether childcare services and 2,500 institutional customers from April.

Clearstream, the Deutsche Börse group central securities deposit, will launch the daycare and cryptocurrency for institutional customers from April, Bloomberg reportsquoting the business framework. The Luxembourg based deposit initially supports Bitcoin (BTC) and Ethereum (Ethn), with plans to develop in other cryptocurrencies and services such as intention, loans and brokerage.

According to the report, the 2,500 Clearstream customers will be able to access these services via their accounts with Clearstream Banking SA, while the offer itself will be facilitated by Crypto Finance, a subsidiary predominantly acting as a subgardian.

Commenting on the launch, Jens Hachmeister, responsible for issuers and new digital markets at Clearstream, said that with the offer, the company creates a “one -stop shop around guard, brokerage and regulation”, adding that this could extend to stablecoins and titles in the future.

The CEO of Crypto Finance, Stijn Vander Straeten, says that there has been a “very high demand” of crypto of international banking customers, stressing that companies generally spend up to 5 million euros to develop internal cryptography capacities.

This decision comes as the main financial institutions expand their presence in cryptographic space, supported by regulations such as EU markets in crypto-active, or Mica Framework, which entered into force last year.

For example, the second largest Spanish financial institution by volume of assets, BBVA, should also deploy a new crypto trading service in Spain, allowing customers to buy and manage Bitcoin and Ethereum.

Like crypto.News reportedSpanish customers will be able to manage their cryptographic transactions as well as their regular banking activities, according to banks. BBVA will use its own guard platform for cryptographic keys without counting on third-party suppliers.