Deutsche Börse announced that they will be investing around $315 million on new tech investments, including blockchain.
The firm’s spending plan, which is part of their 2020 roadmap and will include 350 job cuts, will also see investments in big data analytics, cloud, computing, robotics, and artificial intelligence. The company also notes that the plan also includes the creation of several hundred jobs in these fields in the future.
Regarding their foray into blockchain development, Deutsche Börse said that they were looking into how blockchain can be used to “create new lines of business and corresponding profits.”
CEO of Deutsche Börse AG Theodore Weimer said of the new spending plan:
“Deutsche Börse is preparing itself for the future and for further growth in the best manner possible. We will be focusing even more consistently on the scalability of our business model and on enhancing our operational processes.”
Last March, the firm reported they would be releasing a blockchain-based securities lending platform with HQLAx using R3’s Corda platform. Later on, they added they would not be working with crypto companies for the platform’s implementation because of bitcoin’s volatility.
In a surprise move last week, though, Deutsche Börse suddenly revealed they were looking into cryptocurrency integration options.