Deutsche Boerse Subsidiary To Launch Bitcoin & Ethereum Custody Services
Highlights
- Deutsche Boerse's post-trade unit reveals plans to launch crypto custody services in Europe.
- Clearstream's plan aligns with the recent global push for cryptocurrencies.
- However, the broader market still sees a downturn despite pro-crypto advancements across the globe.
European financial institution Deutsche Boerse recently revealed that its post-trade unit Clearstream plans to launch Bitcoin and Ether custody services in Europe this year. The announcement comes riding the heels of global pro-crypto ushers, such as a strategic BTC reserve in the U.S. and other global advancements.
Deutsche Boerse’s Clearstream To Launch BTC, Ether Custody Services Soon
According to a Bloomberg report on March 11, Deutsche Boerse’s post-trade unit Clearstream is planning to launch cryptocurrency settlement and custody services later this year. As per the announcement, these services will be offered only to institutional clients in Europe.
Intriguingly, this decision by a key European financial institution indicates growing support for the digital asset class globally. Following recent pro-crypto developments in the U.S. and other nations, European entities are now forging efforts to not lag in the global race for tapping crypto’s potential.
Global Push For Digital Asset Class Adoption On The Rise
On the other hand, a stockpile of other pro-cryptocurrency developments unfolded across the broader sector recently. The U.S. has stolen the spotlight with its strategic Bitcoin reserve and crypto stockpile announcement, underscoring support for the digital asset class.
Also, CoinGape reported that the Singapore Exchange (SGX) is eyeing Bitcoin futures contracts launch by this year, signaling growing support for cryptocurrencies.
Additionally, Japan’s ruling party also made a regulatory proposal to bolster support for cryptos. The nation seeks to launch cryptocurrency-backed ETFs in an effort to not lag behind.
Simultaneously, Deutsche Boerse’s Clearstream now joins the fray alongside vital pro-crypto advancements that underscore a paradigm shift in the market sentiment for cryptocurrencies.
Pro-Crypto Advancements Fail To Uplift Prices
However, despite the most bullish advancements witnessed in recent days, the crypto market continues to slump. Bitcoin (BTC) price hit a $76K low, whereas ETH, SOL, and XRP prices erased alarming values recently. This waning action is attributable to rising U.S. recession fears amid intense macro heat.
In conclusion, the pro-crypto movers, such as Deutsche Boerse’s plans and the U.S. advancements, have failed to uplift the market sentiment. Traders and investors continue to stay on their toes despite major advancements due to broader turmoil.
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