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Deutsche Boerse AG considers Cryptocurrency Products

Deutsche Boerse AG is a Frankfurt Stock Exchange operator. The company organizes trading of shares and securities in a marketplace. They also provide transaction services and provide companies and investors with access to global capital markets.

Deutsche Boerse AG is considering offering cryptocurrency related products to their customers. At a stock exchange industry event in London on May 23, the head of clients, product and core markets for the company, Jeffrey Tessler said they are examining their options for offering cryptocurrency products.

According the Tessler, they are deep in work in their research of the technology before moving forward. He said that for them to consider anything like Bitcoin, the group will first study underlying transactions and the volatility.

In December 2017, CME Group and CBOE Futures Exchange got the green light from US regulators to offer Bitcoin futures trading. Since this major move, there have been no major exchanges from the European market to jump to this option.

Tessler is quoted in Bloomberg saying that Deutsche Boerse are not on the same level with CME and first want to make sure that regulators are in the cryptocurrency space and their clients understand, and are ready for the move.

In March, Deutsche Boerse made a partnership with HQLAX, a financial management firm. This partnership was supposed to develop a blockchain platform that would help make the firm’s securities settlement efficient by use of R3’s Corda platform. Tessler later released a statement saying that the change of BTC price from $19000 to $6000 was alarming. This was a confirmation that the currency was not stable.

The current developments therefore confirm that the partnership was not dissolved since the company is still interested in the cryptocurrency market. This move will see more use of Bitcoin and other cryptocurrency related products in different markets. It will encourage a bigger adoption of the services of Bitcoin in enabling fast and secure transfer of assets.


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