[Blockchain Today Reporter Jieun Lee] German stock market Deutsche Bank and major bank Commerzbank jointly invested in a new holding company that will focus on blockchain technology and digital assets.
According to Cointelegraph reports, on the 29th (local time) on the 29th (local time) of the stock exchange, Deutsche Boerze worked with Fintech technology company 360X to develop a new blockchain-based digital market and existing real estate asset classes such as art and real estate. Announced that it has entered into a strategic alliance.
In an interview with Cointelegraph, an official told Cointelegraph that the German stock exchange invested about 50% of the stake in 360X, EUR 10 million ($12 million), and Commerzbank owned a smaller two-digit stake. Said that there is.
A spokesman for the German Stock Exchange said the announcement is for the official launch of the 360X and that the German Stock Exchange and Commerzbank are investing in 360X as a new partner company. Other participants were 360X executives and other private investors, the spokesman said.
According to the announcement, the 360X will focus on illiquid assets such as early arts and real estate. The platform is also intended to support a non-replaceable token, a tradable digital collectible known as NFT. A spokesman for the German Stock Exchange said, “Because the 360X aims to build a new market and ecosystem for existing real estate assets such as art and real estate, it aims to support NFT’s transactions.” A spokesperson added that the 360X is set up as a highly scalable model, so asset classes will be added in the future.
As previously reported, the German Stock Exchange and Commerzbank have been working closely together in the blockchain industry for many years. In 2019, several companies participated in a joint simulation of using distributed ledger technology and digital tokens for settlement settlement of securities after trading. The German Stock Exchange and Commerzbank also collaborated with each other in conducting transactions using HQLAX’s blockchain-based securities lending platform.
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