Clearstream is set to offer cryptocurrency custody and settlement services for institutional clients starting April 2025.
Clearstream's New Service
Clearstream, the central securities depository of Deutsche Börse Group, announced the launch of custody and settlement services for Bitcoin and Ethereum. These offerings will be accessible through Clearstream Banking SA to their 2,500 clients. Crypto Finance, a subsidiary, will act as a sub-custodian to ensure the secure management of digital assets.
Future Plans and Expansion
Clearstream plans to add other cryptocurrencies and offer staking, lending, and brokerage services. Jens Hachmeister, head of issuer services and new digital markets, shared that the company aims to create a 'one-stop shop' around custody, brokerage, and settlement.
Market Trends and International Examples
The growing institutional interest in digital assets is driving initiatives like Clearstream's. Stijn Vander Straeten, CEO of Crypto Finance, noted high demand from international banking clients, claiming firms often spend up to €5 million developing in-house crypto capabilities, making Clearstream's offering an attractive alternative. Additionally, BBVA has received approval to offer cryptocurrency trading and custody services in Spain.
Clearstream's launch of cryptocurrency custody and settlement services marks a significant step in integrating digital assets into the traditional financial system.
