The German Stock Exchange Plans to Launch Institutional Custody Service for Bitcoin and Ether
The German Stock Exchange has announced the launch of an institutional custody service for Bitcoin and Ether.
We have witnessed a significant increase in the adoption of cryptocurrencies across Europe over the past few months.
The recent market collapse has sparked immense debate within the digital assets community. While most hold a negative outlook, some members, such as Ark Invest's CEO Cathie Wood, have a different perspective. Wood believes that this could be the final phase of a renewed recession, meaning that upward movements could follow.
On the other hand, Europe has been nurturing its adoption of cryptocurrencies regardless of current market conditions. Notably, the German Stock Exchange Group, Deutsche Börse, has announced plans to launch an institutional custody service for Bitcoin and Ether.
Through this project, Deutsche Börse's trading unit Clearstream aims to enhance the user experience for its institutional clients. The company will also include settlement services for Bitcoin and Ether transactions for its 2,500 institutional clients.
Jens Hachmeister, Head of Clearstream, stated:
"Through this offering, we are working to create a comprehensive store for custody, brokerage, and settlement-related services,"
