The 19th largest bank in the world - French Foreign Trade Bank collaborates with cryptocurrency asset management company 21Shares to provide liquidity for its cryptocurrency exchange-traded products (ETPs) in the European market.
The collaboration involves providing liquidity and market-making services for 21Shares' cryptocurrency ETPs to investors in Germany and Eastern Europe.
French Foreign Trade Bank will provide liquidity for 21Shares' Bitcoin and Ethereum ETPs through over-the-counter (OTC) trading. This includes its ABTC, CBTC, AETH, and CETH funds. 21Shares announced this news on Wednesday.
This collaboration is expected to enhance execution efficiency, strengthen liquidity, and simplify crypto investment channels for institutional investors.
Alistair Byas-Perry, Head of Global Capital Markets and EMEA Investments at 21Shares, said: 'We are excited to partner with a key player in the European ETF market, French Foreign Trade Bank, to continuously expand the accessibility of our ETPs.'
The 20 largest banks in the world. Source: Wikipedia
As of 2023, French Foreign Trade Bank has total assets exceeding $1.7 trillion.
Continuing to advance blockchain development
The partnership with French Foreign Trade Bank is seen as part of its development in the blockchain field. According to Martina Schroettle, Head of Trading Sales, this marks significant progress in providing innovative liquidity solutions for clients and expanding ETF and ETP accessibility.
The bank is also exploring other blockchain-related initiatives.
In September 2024, its blockchain subsidiary French Foreign Trade Bank-FORGE partnered with Bitpanda to promote the adoption of its euro-denominated stablecoin EUR CoinVertible.
This collaboration occurs before the implementation of the European Market in Crypto-Assets (MiCA), which is the first comprehensive regulatory framework for the crypto industry.
