German exchange Deutsche Boerse (DB) announced it is “deep at work” studying alternatives regarding cryptocurrency.
Jeffrey Tessler, the firm’s head of clients, products, and core markets told an audience at a gathering that they are busy “understanding” what drives Bitcoin before “moving forward” with it.
This is a sign of moving forward from when Tessler commented back in March that Bitcoin price’s unpredictability has caused DB to be wary of entering into any crypto-related undertaking at the time.
“Before we move forward with anything like Bitcoin we want to make sure we understand the underlying transaction which isn’t the easiest thing to do. We are deep at work with it,”
he stated this week.
The German financier was keeping his cards close to his chest regarding the firm’s plans relating to crypto. However, Tessler confirmed that DB was “not at the same stage” with CBOE and CME, its US counterparts, who has started trading Bitcoin futures in December 2017.
“…[W]e want to understand the volatility and make sure clients are in line and make sure regulators are in line,”
While still holding out against Bitcoin, DB is already into blockchain teaming up with HQLAx, a liquidity management company in developing securities lending with the R3’s Corda platform.