German banking giant Deutsche Bank AG is looking to invest in two German crypto companies as it looks to drive growth, according to Bloomberg. HeleneBraunn reports
People familiar with the matter told Bloomberg that Stefan Hoops, the CEO of the division, known as DWS Group, has entered into negotiations to buy a minority stake in Deutsche Digital Assets, a provider of exchange-traded products, as well as trading firm Tradias, which is owned by leading securities trading bank and market maker, Bankhaus Scheich.
During an earnings call last week, Hoops, who has been a crypto advocate for some time, said that the current low prices for crypto assets could create “interesting opportunities” for DWS. In a company roadmap laid out in December, Hoops mentioned one of the company’s goals is to put their products on the blockchain with a vision of creating a Euro-based stablecoin, as well as building or investing in various blockchain-related services.
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