Grant says the business focus will be on Switzerland and Germany, with an influence campaign planned for Europe’s newer crypto bastions.
A law passed earlier this year allows Spezialfonds, open only to institutional investors, to invest up to 20% of assets in cryptocurrencies.
A new German law allows for $415 billion in new crypto investment. But, given the conservative nature of "spezialfonds," the money might take time to arrive.
The Certus One team will merge with Jump Trading’s team of 900 employees made up of engineers, quants and traders.
The law allows "special funds" to invest up to 20% of their assets in crypto.
The license will allow Coinbase to continue operating in Germany.
Iconic Funds plans to bring more products to the market for “crypto-hungry” investors and is also exploring listings outside of Germany.
Under the legislation, wealth managers known as Spezialfonds would be able to invest up to 20% in digital assets.
The financial institutions are working with fintech firm 360X, with first tokenized transactions coming later this year.
The company’s application to list a bitcoin ETF in the U.S. is currently being reviewed by the SEC.
The round was led by early Luno and Revolut investor Balderton Capital.
BaFin said the stock tokens tracking Tesla, Coinbase and MicroStrategy have been identified as “suspicious” and the exchange could be fined up to $6 million.
The exchange's crypto trading app, Bison, has seen a doubling of trade volumes and active users since last year.
The Bundesbank has been looking for settlement solutions that do not require a CBDC.