Clearstream is set to launch Bitcoin and Ether custody and settlement services for its 2,500 institutional clients beginning in April.
Clearstream, the central securities depository under Deutsche Börse Group, is introducing cryptocurrency custody and settlement services aimed at institutional clients starting next month. The Luxembourg-based institution will initially focus on Bitcoin (BTC) and Ethereum (ETH), with plans for future expansion into additional cryptocurrencies and services such as staking, lending, and brokerage.
Clearstream’s 2,500 clients will be able to utilize these services directly through their accounts with Clearstream Banking SA, facilitated by Crypto Finance, a majority-owned subsidiary that will serve as a sub-custodian.
Jens Hachmeister, head of issuer services and new digital markets at Clearstream, emphasized that this initiative aims to create a comprehensive “one-stop shop for custody, brokerage, and settlement,” and there are intentions to include stablecoins and tokenized securities in the future.
Stijn Vander Straeten, CEO of Crypto Finance, noted the significant demand for cryptocurrency services among international banking clients, revealing that firms often invest up to €5 million to establish in-house crypto capabilities.
This development occurs as prominent financial institutions continue to deepen their engagement with the cryptocurrency market, backed by regulations such as the E.U.’s Markets in Crypto-Assets (MiCA) framework, which took effect last year.
In a related move, BBVA, the second-largest Spanish financial institution by assets, is poised to launch a new crypto trading service in Spain, enabling customers to buy and manage Bitcoin and Ethereum easily.
As reported, BBVA customers in Spain will have the opportunity to handle their cryptocurrency transactions alongside traditional banking activities, utilizing the bank’s own custody platform for cryptographic keys without dependence on third-party providers.
