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Deutsche Börse, Commerzbank Plotting Crypto Marketplaces

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Deutsche Börse, Commerzbank Plotting Crypto Marketplaces

Deutsche Börse, a German marketplace operator, is partnering with Commerzbank to develop blockchain-based marketplaces for assets like art and real estate.

It’s part of the companies’ investment in a fintech firm called 360X. Deutsche Börse and Commerzbank plan to sell their first tokenized assets through the firm later this year.

It’s an opportune time for tokens of all shapes and sizes—where proper cryptocurrencies like BTC and ETH have dominated the conversation for the past decade, other crypto assets (like NFTs, stock tokens, and more) are currently enjoying a moment in the sun.

NFTs are non-fungible tokens: digital collectibles on the blockchain, many of which are tied to image or video files. They’ve been selling for millions over the past few months, and opened up new ways to tokenize off-chain assets. NFTs generated over $2 billion in the first quarter of this year, as tweets, digital images, and GIFs were monetized through online NFT auction houses.

Commerzbank has made other investments in the world of blockchain tech (one of those is Curv, an app for storing crypto), but its analysts have been mostly down on BTC, calling it a purely speculative asset.

Why Germany holds the key to crypto regulation in Europe

Deutsche Börse has been slightly more involved—WisdomTree Investments, which is currently trying to get a BTC ETF approved in the US, already has an ETP (exchange-traded product) listed on Deutsche Börse’s Frankfurt-based Xetra market.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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