Deutsche Boerse’s post-trade unit, Clearstream, has announced plans to offer crypto custody and settlement services for institutional clients later this year through its majority-owned subsidiary, Crypto Finance, which will act as a sub-custodian.
Clearstream will begin offering custody services for Bitcoin (BTC) and Ethereum (ETH) to its 2,500 clients next month. The company also intends to expand its services to include other cryptocurrencies, staking, lending, and brokerage capabilities. Jens Hachmeister, head of issuer services and new digital markets at Clearstream, mentioned that this initiative aims to create a comprehensive solution for custody, brokerage, and settlement, and it may eventually extend to assets like stablecoins and tokenized securities.
According to Crypto Finance CEO Stijn Vander Straeten, the organization began developing this service roughly a year ago. He noted that this strategy would help banks and large institutions adopt digital assets more efficiently by utilizing familiar technology and compliance tools. Clearstream, one of Europe’s largest clearing houses with approximately $21.7 billion in assets under management as of January this year, will enable its clients to access crypto custody and settlement services using their existing accounts with Clearstream Banking SA.
Traditional financial institutions are expanding their presence in digital assets due to regulatory clarity in regions such as the European Union (EU), Singapore, and the United Arab Emirates (UAE). Vander Straeten reported high demand from international banking clients following the implementation of the Markets in Crypto-Assets Regulation (MiCA) on December 30, 2024. He highlighted that management firms at these institutions often invest up to €5 million to build and maintain internal crypto teams, and the new service offers a cost-effective alternative.
This development follows a significant milestone in Germany, where Boerse Stuttgart Digital Custody has become the first crypto asset service provider in the country to receive full MiCA authorization. Under this Europe-wide license, it now serves as a regulated infrastructure provider for banks, brokers, and asset managers.
Additionally, Spanish bank BBVA SA recently obtained regulatory approval to launch crypto trading services for retail clients. BBVA plans to offer trading for BTC and ETH through its mobile banking app, initially targeting a select group of customers before expanding nationwide.
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