Deutsche Börse establishes dedicated crypto and blockchain team

The ‘DLT, Crypto Assets and New Market Structures’ team will look to develop Deutsche Börse’s group-wide response to blockchain and crypto assets.

Deutsche Börse Group has announced plans to establish an initiative fully dedicated to exploring blockchain technology and cryptocurrencies.

The unit, known as ‘DLT, Crypto Assets and New Market Structures’, will be headed up Jens Hachmeister who has been with the exchange operator for almost 20 years in various senior roles, most recently as chief of staff.

With a team of 24 blockchain specialists, including Hachmeister, the initiative will focus on furthering the development of Deutsche Börse’s group-wide approach to digital assets and distributed ledger technology (DLT).

Deutsche Börse has already been active in the blockchain space, having recently made a strategic investment in a startup that is looking to bring the technology to securities lending markets. However, Hachmeister explained that such projects have not been coordinated on a group-wide level.

“In order to use the full potential of the technology for our businesses, to generate efficiencies and create revenues, a centrally steered approach is necessary to make a greater impact,” he said. “All initiatives in the field of DLT/blockchain will now be operated by one team, in a joint group-wide approach.

“We will of course work in close cooperation with the business segments and IT and in close alignment with colleagues from group legal and group regulatory strategy.”

Plans to establish the unit are part of Deutsche Börse’s Roadmap 2020 strategy, which focuses on investment in four emerging technologies – cloud, big data and analytics, robotics and DLT.

“From Deutsche Börse’s point of view, the DLT/blockchain technology is a key opportunity for the creation of new market structures, adding new products onto our present structures and enhancing our existing offerings,” Hachmeister added.

“Its potential cuts across our entire value chain – pre-IPO/listing, trading and clearing, settlement and custody, and even the data and analytics business.”