Deutsche Boerse and Commerzbank invest in new digital asset venture

German securities marketplace Deutsche Boerse and major bank Commerzbank have invested in a new holding company jointly focused on blockchain technology and digital assets.

Deutsche Boerse and Commerzbank invest in new digital asset venture

Deutsche Boerse announced that the company and Commerzbank together have formed a strategic partnership with fintech firm 360X to develop new blockchain-based digital marketplaces, for existing real asset classes like art and real estate.

As per the announcement, 360X will focus on illiquid assets such as art and real estate. The platform is also intended to support NFTs. 

A spokesperson from Deutsche Boerse noted that the announcement marks the official launch of 360X as a company, with Deutsche Boerse and Commerzbank capitalizing 360X as a new firm as partners. “Since 360X aims to build new marketplaces and ecosystems for existing real assets, such as art and real estate, it is aimed at supporting the trading of NFTs,” a Deutsche Boerse spokesperson said.

Deutsche Boerse and Commerzbank have been closely collaborating in the blockchain industry for years. In 2019, the companies jointly piloted a transaction settlement of post-trade securities using distributed ledger technology and digital tokens. 

Deutsche Boerse and Commerzbank both have also worked together to carry out transactions using HQLAx’s blockchain-based security lending platform.