Deutsche Boerse collaborates with a crypto company to access cryptocurrency market data
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Answer Deutsche Boerse collaborates with a crypto company to access cryptocurrency market data
Cryptocurrency data provider Kaiko has announced a partnership with Deutsche Boerse as the latter aims to expand its presence in the digital asset industry.
According to Official press releaseThe merger and collaboration is expected to be completed by the fourth quarter of this year.
The latest move is focused on expanding the German Stock Exchange’s reach into the cryptocurrency market.
As part of the partnership, French digital asset data platform Kaiko will provide the Deutsche Boerse Group with trade data on all central and decentralized cryptocurrency exchanges.
Kaiko collects data from more than 100 such trading platforms for both spot and derivatives markets.
Read:Will Ethereum Overtake Bitcoin, Especially After the Decentralized Finance (DeFi) Boom?
The retail level data collected from the central trading platforms alone represents about 150,000 instruments.
It also covers the majority of data from popular blockchain protocols such as Ethereum or Avalanche.
Following the partnership announcement, Alireza Dorvard, Head of Market Data and Services at Deutsche Boerse, highlighted the high demand for consolidated data from platforms to develop relevant investment strategies focused on crypto in light of high volatility and price volatility.
He added:
Our new offering addresses this need, helps our clients gain a deeper understanding of the cryptocurrency market, and allows them to analyze specific events.
With Kaiko and its comprehensive catalog of data types, we’ve found the right partner for this.
Deutsche Boerse’s first attempt to enter the crypto industry dates back to June 2021 when it agreed to buy a two-thirds stake in Crypto Finance AG.
After the acquisition was completed, Deutsche Boerse enabled custodianship and post-trade operations among other crypto-focused services for its institutional clients.
Read:BitMEX Cryptocurrency Exchange Launches Its Own Mobile App
Meanwhile, Deutsche Boerse also announced the listing of Bitcoin Spot ETN on its Xetra digital exchange.
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