Yazılar

Deutsche Boerse’s Clearstream to Launch Bitcoin and Ether Custody Services

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Deutsche Boerse is set to offer cryptocurrency custody and settlement services to institutional clients starting next month, marking a major step into the crypto space. The company’s Clearstream division, known for its settlement services, will now provide custody for Bitcoin and Ether, the two largest cryptocurrencies by market capitalization.

Key Details:

  • Launch date: April
  • Service offered: Custody and settlement for Bitcoin and Ether, with potential for adding more cryptocurrencies based on demand.
  • Sub-custodian: Crypto Finance, a subsidiary of Deutsche Boerse.

Expansion into Crypto

Deutsche Boerse, a major German exchange, began its foray into cryptocurrency services with the launch of a crypto trading platform for institutional investors in 2023. Offering crypto custody services is now part of Clearstream’s strategy to digitize financial markets, according to Jens Hachmeister, Clearstream’s head of issuer services and new digital markets.

Growing Crypto Adoption in Europe

The move comes after the European Union’s Markets in Crypto-Assets regulation (MiCA) was introduced in 2023, setting clear rules for crypto activities across Europe. Clearstream’s new service is part of a broader trend of European financial institutions moving into digital assets, with Crypto Finance having secured a MiCA license in January.

Industry Comparison

Deutsche Boerse joins a growing list of global custody providers like Bank of New York Mellon and State Street, which also offer crypto custody services. BBVA, a Spanish bank, is another notable institution expanding into the digital asset space by offering Bitcoin and Ether trading in Spain.

The move to institutionalize cryptocurrency services reflects growing mainstream financial interest in crypto assets, especially with U.S. regulators easing rules for banks to engage with digital currencies.

ISS Advises Shareholders to Oppose Virtual AGMs at Siemens

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Institutional Shareholder Services (ISS), a prominent proxy advisory firm, has recommended that Siemens shareholders vote against the continuation of virtual annual general meetings (AGMs) in the coming years. The proposal will be put to a vote at Siemens’ AGM on February 13.

Siemens has held virtual AGMs since 2021, but maintaining this practice requires a three-quarters majority approval. ISS, however, has expressed concerns over Siemens’ lack of commitment to reinstating in-person meetings, stating that the company’s justification for virtual-only AGMs is “not convincing.”

According to financial sources, Siemens has reserved the Munich Olympiahalle for 2026, suggesting it is preparing for a potential return to physical meetings if shareholders reject the virtual format. While Siemens has not commented on the booking, a spokesperson defended the digital format, citing “very good experiences” with virtual AGMs.

With ISS opposing the measure, Siemens now faces uncertainty over whether it can secure the necessary votes to continue virtual shareholder meetings beyond this year.

 

Sygnum Hits $1 Billion Valuation After $58 Million Funding Round

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Crypto-focused bank Sygnum has achieved a $1 billion valuation following its successful $58 million funding round, the company announced on Tuesday. The round was led by bitcoin-centric venture capital firm Fulgur Ventures, with additional participation from both new and existing investors, including some of Sygnum’s employees.

Why It Matters

This milestone reflects the recovery in the cryptocurrency industry as investor sentiment rebounds. The sector has shown resilience after enduring challenges such as stricter monetary policies and the collapse of major players like FTX.

Company Overview

Sygnum, headquartered in Zurich and Singapore, specializes in serving institutional clients. It offers services such as cryptocurrency trading, digital asset custody, and crypto-backed lending. The bank also enables its customers to earn interest on their crypto holdings. Unlike other platforms, Sygnum does not cater to retail users.

Recently registered in Liechtenstein, Sygnum is aiming to expand its reach across the European Union and European Economic Area markets. Additionally, it plans to broaden its footprint in Europe and launch operations in Hong Kong. The new funding will be directed towards infrastructure development, product diversification, and international expansion.

Sygnum reported robust financial performance, stating that revenues from its trading services — including crypto spot, derivatives, foreign exchange, and traditional securities — surpassed 2023’s total by the third quarter of 2024.

Key Quotes

“Sygnum has focused on its home markets in Europe and Asia and has no current plans to enter the U.S. market with our own entities,” said Mathias Imbach, co-founder and group CEO. “The U.S. developments for positive crypto market reform are, however, highly encouraging. Sygnum is exploring other options to benefit from this trend, such as partnerships and M&A.”

Context

As the crypto sector stabilizes, firms like Sygnum are leveraging improved investor confidence and regulatory clarity to expand their operations. This funding round solidifies Sygnum’s position as a leading player in the institutional crypto banking space.