Clearstream, the central securities depository of Deutsche Börse Group, is preparing to launch cryptocurrency custody and settlement services for institutional clients starting in April, according to a Bloomberg report citing company executives.
The move marks a significant step for the Luxembourg-based depository as it aims to integrate digital assets into its traditional financial infrastructure.
Clearstream will provide custody and settlement services for Bitcoin and Ethereum, with plans to add other cryptocurrencies. The company will also offer staking, lending, and brokerage services as part of its digital asset strategy. Their 2,500 clients can access these services through Clearstream Banking SA. Crypto Finance, a majority-owned subsidiary, will serve as a sub-custodian to ensure secure and compliant management of digital assets.
Commenting on the launch, Jens Hachmeister, head of issuer services and new digital markets at Clearstream, emphasized that the latest offering would establish a “one-stop shop around custody, brokerage, and settlement.” He also hinted at the potential to extend the services to include stablecoins and tokenized securities, reflecting the company’s commitment to staying ahead in the evolving digital finance landscape.
Stijn Vander Straeten, CEO of Crypto Finance, noted that demand from international banking clients has been exceptionally high, driven by the growing institutional interest in digital assets. He highlighted that firms often spend up to €5 million to develop in-house crypto capabilities, making Clearstream’s comprehensive offering an attractive alternative.
In line with this trend, BBVA has received approval from the Spanish Securities and Exchange Commission (CNMV) to offer Bitcoin and Ether trading and custody services in Spain. Initially targeting select private clients, the bank plans to extend these services to all retail customers soon. The offerings comply with MiCA regulations and allow customers to buy, sell, and manage cryptocurrencies through BBVA’s mobile app, integrating crypto trading with traditional banking for a better user experience.
