German Stock Exchange Deutsche Boerse Wants To Launch Bitcoin ProductsMay 24, 2018 4:42 pm
CoinDesk reported Thursday Frankfort Stock Exchange owner Deutsche Boerse is considering offering cryptocurrency products, according to a report.
Speaking Wednesday in London, the firm’s head of clients, products and core markets Jeffrey Tessler said “We are deep at work with it,” the report said.
“Before we move forward with anything like bitcoin we want to make sure we understand the underlying transaction which isn’t the easiest thing to do.” – Deutsche Boerse official Jeffrey Tessler
Both CME Group and Cboe Global Markets both launched bitcoin futures trading last December, CoinDesk reported. However, Tessler said during the event Deutsche Boerse is “not at the same stage.”
The firm, he said, is trying first to understand the volatility of the bitcoin market and making sure clients and regulators are “in line” before moving forward with any offerings, the report said.
While a move into offering bitcoin products is uncertain, the exchange has already been active in the blockchain space, the report said.
Last June, Deutsche Boerse told CoinDesk about its plan to move the majority of its post-trade services to a blockchain. At the time, it said it was focused on creating a system, using Hyperledger’s open-source Fabric protocol, to transfer securities and move commercial bank money, while still ensuring cross-jurisdictional compliance with regulators, the report said.
And, in March, the group announced it would develop a platform for more efficient securities lending using R3’s Corda blockchain tech, the report said.
– WN.com, Jack Durschlag