Deutsche Boerse to Launch Bitcoin and Ethereum Custody Services
Deutsche Boerse’s post-trade unit, Clearstream, has unveiled plans to launch cryptocurrency custody services for Bitcoin and Ethereum in Europe later this year.
The move comes as part of a broader trend, with more global financial players signaling increased support for the digital asset market, including notable developments in the U.S.
Clearstream’s new initiative will cater to institutional clients, reflecting the growing recognition of cryptocurrencies as a serious asset class. This announcement follows a series of pro-crypto shifts, such as the U.S. strategic Bitcoin reserve and other international moves, as governments and financial institutions race to embrace digital currencies.
READ MORE: Bitcoin and Ethereum Trading Now Available to Clients of Major Spanish Bank
In addition, the crypto industry has seen several significant steps forward. The Singapore Exchange (SGX) is reportedly preparing to introduce Bitcoin futures contracts, while Japan’s government is exploring the possibility of cryptocurrency-backed ETFs. These advancements show the increasing global momentum towards cryptocurrency adoption.
Despite these optimistic developments, the crypto market faces challenges. Bitcoin recently dropped to a $76,000 low, while Ethereum, Solana, and XRP also experienced significant price corrections. These downturns are largely attributed to ongoing macroeconomic uncertainty and fears of a potential U.S. recession, which have dampened market sentiment.
Although global support for cryptocurrencies is mounting, including Clearstream’s upcoming services, it hasn’t been enough to reverse the ongoing market slump. The market remains cautious, with investors on edge due to broader economic concerns.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
