Image Credit: Shutterstock
Key Takeaways
- Clearstream expected to launch Bitcoin and Ether custody in April 2025.
- Institutional clients could access the service through existing Clearstream accounts.
- Crypto Finance Deutschland would act as the MiCA-regulated sub-custodian.
Updated: Aug. 9, 2026
Deutsche Börse announced on March 11, 2025, that its post-trade business Clearstream would offer institutional custody and settlement for Bitcoin and Ether. The service was expected to become available in April 2025, subject to final regulatory approval.
The planned structure would let clients of Clearstream’s International Central Securities Depository use existing accounts with Clearstream Banking S.A. in Luxembourg. Crypto Finance (Deutschland) GmbH would provide the crypto sub-custody.
Update: The custody service subsequently went live on June 2, 2025. Clearstream expanded it from Bitcoin and Ether to eight supported assets on July 6, 2026.
Clearstream Targeted April Rollout for Bitcoin and Ether
Bitcoin and Ether were the first assets included in Clearstream’s planned crypto custody offering. The company said it could consider adding other cryptocurrencies later in response to client demand.
The planned offering would extend Clearstream’s established custody and settlement services to crypto assets. Trades could be concluded through various external venues, with Clearstream serving as the custody and settlement location.
Jens Hachmeister, Clearstream’s head of issuer services and new digital markets, described the wider proposition to Bloomberg:
“With this offering, we are creating a one-stop shop around custody, brokerage, and settlement.”
The official Clearstream announcement focused on custody and settlement. It said trades concluded around the clock on various venues could be settled and held through Clearstream, while additional cryptocurrencies would depend on client demand.
Existing Accounts Would Provide Crypto Access
The planned service was designed to connect crypto transactions to infrastructure already used by Clearstream clients. Institutions would not need to build a separate direct contractual, technical and functional relationship with the crypto sub-custodian.
Clients of Clearstream’s International Central Securities Depository could use their existing Clearstream Banking S.A. accounts. Instructions could pass through established connectivity and communication formats such as Swift.
Bitcoin and Ether trades could be executed through various trading venues, with Clearstream selected as the settlement and custody location. The arrangement therefore separated trade execution from the post-trade process rather than placing both functions on a new Clearstream trading platform.
Crypto Finance Deutschland to Provide Sub-Custody
Clearstream and Crypto Finance performed different roles within the proposed service. Clearstream supplied the institutional account and settlement layer, while Crypto Finance’s German entity supplied specialist crypto sub-custody.
Crypto Finance (Deutschland) GmbH received authorization under the EU’s Markets in Crypto-Assets Regulation from Germany’s Federal Financial Supervisory Authority in January 2025. The authorization belonged to the German Crypto Finance entity, not Clearstream itself.
Crypto Finance AG is a separate Swiss group entity regulated by FINMA, while Clearstream appointed Crypto Finance (Deutschland) GmbH as the sub-custodian for this service.
The structure gave institutional clients a familiar Clearstream account and settlement interface for Bitcoin and Ether while placing the underlying crypto sub-custody with the regulated German Crypto Finance entity.
