2023-11-17 17:52:04
© Reuters. Large European exchange to launch cryptocurrency broker in 2024
Blockmarket – Deutsche Börse, a major European stock exchange, announced plans to launch a cryptocurrency broker in 2024. As highlighted, the initiative was motivated by the great demand for the sector on the continent.
This is not Deutsche Börse’s first excursion into the cryptocurrency market. Still in 2021, the exchange acquired a majority of Crypto Finance AG, a Swiss company focused on cryptoactive services.
In addition to the exchange, the exchange will make its own stablecoin available on the market, which will assist customers in their negotiations. Another highlight is that the platform will have tokenized assets on blockchainwhich has become increasingly popular in recent years.
As highlighted by Blackrock CEO Larry Fink, “the next generation of markets will be the tokenization of securities.”
Tokenization consists of registering goods and financial assets on blockchain, so that they can be traded in a similar way to traditional cryptocurrencies. This technology has the potential to make financial markets more efficient by reducing costs, eliminating barriers and potentially increasing liquidity.
Banks in the cryptocurrency market
In recent years, a number of large banks and traditional financial institutions have sought exposure to the cryptocurrency market through different strategies. Giants such as Nubank (BVMF:), Itaú, Fidelity and Blackrock announced projects related to the sector.
Additionally, several institutions are seeking to obtain a spot ETF in the United States. The SEC, the agency that regulates the financial market in the country, is analyzing requests from several companies, including Blackrock and the Brazilian company Hashdex, which has ETFs approved in Brazil.
A spot Bitcoin ETF would potentially attract new investors to the sector, as well as bring more regulatory clarity to the market.
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