French firm Kaiko will provide German stock exchange Deutsche Boerse with crypto market data.
- The integration is expected to be completed by the fourth quarter, Deutsche Boerse announced Tuesday.
- Kaiko offers data from more than 100 centralized and decentralized exchanges, covering the majority of blockchain protocols such as Ethereum and Avalanche.
- Deutsche Boerse owns the Frankfurt Stock Exchange, which is the third-largest exchange in Europe behind Euronext and the London Stock Exchange, and lists many of the biggest financial services companies in Germany such as Deutsche Bank and insurer Allianz.
- It first moved in crypto a year ago when it acquired a two-thirds stake in Crypto Finance AG, allowing it to offer custody and other crypto-related services to institutional and professional clients.
- “The crypto market faces high volatility and price fluctuations," Alireza Dorfard, head of market data at Deutsche Boerse, said in a statement. "Therefore, many of our clients have a high demand for consolidated data from centralized as well as decentralized exchanges to develop useful crypto investment strategies."
- The agreement with Kaiko should further Deutsche Börse's advances into the cryptocurrency industry, providing its clients with the visibility of the crypto markets that they would expect in mainstream finance.
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