Clearstream, the Deutsche Boerse Group’s main securities depository, is unveiling an exclusive custody service. As per Satoshi Club, Clearstream is introducing crypto settlement and custody services to benefit institutional users. The crypto news platform disclosed this development on its official social media account.
Clearstream to Offer Institutional Crypto Settlement and Custody Services for BTC and ETH
Clearstream is reportedly offering the staking as well as settlement services for cryptocurrencies. The platform will start providing these services to its institutional users in April. This development denotes a landmark step to advance the adoption of digital assets in the conventional financial sector. The Luxembourg-based platform will at first offer custody services for Ethereum ($ETH) and Bitcoin ($BTC). Hence, the platform’s 2,500 institutional users will be able to leverage these services via Clearstream Banking SA and Crypto Finance.
In addition to this, Clearstream also has a plan to move toward additional services, like brokerage, lending, and staking. Jens Hachmeister, Clearstream’s head of issuer services as well as latest digital markets, also commented on this development. The executive considers this offering by the platform as a groundbreaking move to establish a one-stop shop. With this, the platform will reportedly deliver settlement, brokerage, and custody-related services all in one place. Hachmeister added that the firm could finally expand the services thereof to tokenized securities and stablecoins.
Mainstream Adoption of Crypto Services Set to Secure Significant Place in Mainstream Banking
According to Satoshi Club, the launch of crypto settlement and custody services by Clearstream underscores the wider trend of top financial platforms’ increasing engagement with digital assets. This development also points toward the digital assets’ increasing recognition as a key component of the financial sector. The widening regulatory support, apart from institutional demand, shows that crypto services are set to become a significant part of the mainstream banking landscape.
