Germany Financial News

The United Kingdom could see its first centrally cleared trading venue for digital asset derivatives due to a partnership between a London Stock Exchange Group (LSEG) business and trading startup Global Futures and Options (GFO-X). They intend to launch the service in the fourth quarter of this year.

BlackRock, Fidelity and other fund giants will have their influence at Europe's main asset management trade body curbed after an overhaul to its voting rules.

The Group of Seven (G7) organization aims to help developing countries introduce central bank digital currencies (CBDCs) in line with international standards. 

Tuesday April 11th 2023 – Ecoterra, a web3-based recycle-to-earn app, has made a significant splash in the crypto community as its presale fundraising amount doubled within just 24 hours.

On April 11, European cryptocurrency investment firm CoinShares published its latest “Digital Asset Fund Flows Report,” revealing that digital asset investment products experienced positive sentiment with inflows totaling $57 million last week, bringing inflows back to a net positive position year-to-date. However, despite this, "volumes were low at $970 million for the week," and the global Bitcoin (BTC) exchange market also saw low volumes, which "were just 25% of the year-to-date average at $18 billion for the week."

After Danish logistics firm Maersk terminated its blockchain-based supply chain platform last year, industry builders have not given up on blockchain applications in global trade.

On March 15, the European Parliament voted 418 to 103 (with 24 abstentions) in favor of negotiating a mandate for talks with the European Union member states about revising the new European Digital Identity (eID) framework and creating the “European Digital Identity Wallet,” also known as EUDI Wallet or EU wallet. 

Germany has long been regarded as one of Europe’s most crypto-friendly countries. It has now given the latest regulatory approval to digitize stocks as “crypto shares.”

The German government is pushing for more welcoming regulations for startups working with financial innovation in the country, according to the newly drafted legislation of the "Future Finance Act" introduced by the finance ministry on April 5. 

OpenAI, the creators of artificial intelligence (AI) chatbot ChatGPT, is under investigation by Canada’s privacy commissioner for alleged collection and use of personal information without consent.

Popular cybersecurity firm Kaspersky recently concluded an investigation into a supply chain attack on 3CX, a popular VoIP (Voice over Internet Protocol) software provider. The attack came to light on 29 March and reportedly affected cryptocurrency firms.

A supply chain attack installed a backdoor in computers around the world but has only been deployed in fewer than ten computers, cybersecurity company Kaspersky has reported. The deployments showed a particular interest in cyptocurrency companies, it added. 

VP Bank, one of the largest banks in Liechtenstein, partnered with will consolidate its digital asset infrastructure provider Metaco to consolidate its digital asset custody and tokenization operations. 

Bitcoin infrastructure firm Blockstream has partnered with ZeroSync Association, a non-profit organization based in Switzerland, to broadcast Bitcoin zero-knowledge proofs via Blockstream’s satellite.

EY Germany has reportedly been banned from taking on new audits for major companies for two years by the German accounting watchdog Apas over the Wirecard scandal.

Yuga Labs, the company behind the Bored Ape Yacht Club (BAYC) and CryptoPunks NFT collections, has a new CEO: Daniel Alegre. The executive resigned as president and chief operating officer of the gaming giant company Activision Blizzard to join the NFT startup on April 1. 

blockchain technology. Even amid the turmoil set off by interest rate hikes and quantitative tightening, the global bond market, which is bigger in size than equities yet off the radar for retail investors, appears to have earmarked 2023 to leverage blockchain technology. A few days ago, Switzerland-based Obligate executed a corporate bond issued by a Swiss commodity trading firm on Polygon’s blockchain platform, thus marking the first bond issuance that involved no intermediary or traditional rails. The bond was issued and executed by the smart contract. Earlier in February, the Hong Kong government issued the world’s state-issued tokenized green bonds worth $102 million using blockchain technology as part of its push to restore its status as a global financial hub. In Germany, engineering giant Siemens issued its first digital bond, worth $64 million, on a public blockchain.

Boerse Stuttgart Digital, the digital asset brand of the Boerse Stuttgart exchange group, announced March 30 that its blocknox service has received final licensing from the German Federal Financial Supervisory Authority (BaFin) to operate as a crypto custodian. Boerse Stuttgart Group now offers fully regulated brokerage, trading, and custody of digital assets, it said.

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