Deutsche Börse, Commerzbank Plotting Crypto Marketplaces


  • Deutsche Börse and Commerzbank have invested in a fintech firm referred to as 360X.
  • They’re planning to develop “blockchain-based digital marketplaces” for artwork and actual property.

Deutsche Börse, a German market operator, is partnering with Commerzbank to develop blockchain-based marketplaces for property like artwork and actual property.

It’s a part of the businesses’ funding in a fintech agency referred to as 360X. Deutsche Börse and Commerzbank plan to promote their first tokenized property by way of the agency later this yr.

It’s an opportune time for tokens of all styles and sizes—the place correct cryptocurrencies like Bitcoin and Ethereum have dominated the dialog for the previous decade, different crypto property (like NFTs, inventory tokens, and extra) are presently having fun with a second within the solar.

NFTs are non-fungible tokens: digital collectibles on the blockchain, a lot of that are tied to picture or video recordsdata. They’ve been promoting for tens of millions over the previous few months, and opened up new methods to tokenize off-chain property. NFTs generated over $2 billion within the first quarter of this yr, as tweets, digital photos, and GIFs had been monetized by way of on-line NFT public sale homes.

Commerzbank has made different investments on this planet of blockchain tech (a type of is Curv, an app for storing crypto), however its analysts have been principally down on Bitcoin, calling it a purely speculative asset.

Deutsche Börse has been barely extra concerned—WisdomTree Investments, which is presently making an attempt to get a Bitcoin ETF accredited within the US, already has an ETP (exchange-traded product) listed on Deutsche Börse’s Frankfurt-based Xetra market.

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