Deutsche Boerse to buy Swiss fintech Crypto Finance By Reuters

Deutsche Boerse to buy Swiss fintech Crypto Finance

Stock MarketsJun 29, 2021 04:10AM ET

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Deutsche Boerse to buy Swiss fintech Crypto Finance

© Reuters. FILE PHOTO: Representations of the Ripple, bitcoin, etherum and Litecoin virtual currencies are seen on a PC motherboard in this illustration picture, February 14, 2018. REUTERS/Dado Ruvic/Illustration/File Photo

FRANKFURT (Reuters) - German stock exchange operator Deutsche Boerse (DE:DB1Gn) said on Tuesday that it was buying a two-thirds stake in Swiss fintech Crypto Finance to expand its offering for digital assets.

Crypto Finance, which was founded in 2017 and has 55 employees, provides trading, storage, and investment in digital assets for institutional and professional investors.

Deutsche Boerse declined to provide details on the purchase price but said it was somewhat more than 100 million Swiss francs ($108.68 million).

Founder Jan Brzezek will remain chief executive along with the existing management team.

($1 = 0.9201 Swiss francs)

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