Latest news with #BaFin
Yahoo
7 hours ago
- Business
- Yahoo
Archax to Acquire Deutsche Digital Assets, Expanding Crypto ETP Reach in Europe
UK-based digital asset exchange Archax is set to acquire Deutsche Digital Assets (DDA), a regulated crypto asset manager in Germany, in a move that strengthens its footprint in Europe's two largest financial markets. DDA manages around $70 million in assets and specializes in crypto exchange-traded products (ETPs) distributed through a network of European banks and asset managers. The deal gives Archax new licenses under Germany's BaFin, including permissions for portfolio management and investment advisory—key capabilities for serving institutional clients in the EU. This acquisition builds on Archax's 2023 purchase of Spanish broker KSCM. With the DDA deal, Archax now holds regulatory approvals in the UK, Germany, France and Spain, allowing it to operate across much of Europe's fragmented digital asset landscape. While the UK only recently opened the door to crypto ETPs for professional investors, Germany has had a head start. Archax now gains access to a market already accustomed to these products, along with the regulatory permissions to issue and distribute them. The timing may prove important as market demand for tokenized assets and regulated digital instruments grows amid geopolitical uncertainty. Archax also offers tokenized real-world assets—such as private equity or real estate—alongside its crypto offerings, positioning itself as a bridge between traditional finance and blockchain infrastructure. Archax CEO Graham Rodford said the deal positions his firm as one of the most comprehensively licensed digital asset firms in Europe. DDA managing partner Maximilian Lautenschläger described the move as a natural fit that opens new market channels on both sides of the channel. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Finextra
2 days ago
- Business
- Finextra
Archax to buy Deutsche Digital Assets
UK based and regulated digital asset exchange, broker and custodian, Archax, is planning to further extend its regulated EU footprint by acquiring Deutsche Digital Assets (DDA), the Germany based digital asset manager. 0 This follows Archax's acquisition last year of Spanish broker KSCM, which was part of the firm's continued ambition to establish the EU and UK's most complete set of digital asset regulated structures, placing the firm in a unique position. DDA is a German-based asset manager with approximately $70 million AUM, offering crypto ETPs and a suite of institutional products. DDA also has extensive European distribution channels through its active network of European banks and asset managers. By acquiring DDA, which is licensed under BaFin, Archax extends its EU presence into Germany and France. Specifically, it allows Archax to add to its EU regulatory stack with the addition of Advisory, Distribution, Portfolio Management and Contract Brokerage permissions. This covers the full spectrum of regulated digital asset solutions across Europe and the UK from tokenised funds and securities to active crypto strategies. With the UK market opening up to crypto Exchange Traded Products (ETPs), per the FCA approving the first UK listings of crypto ETPs for professional investors earlier this year and, with so much global uncertainty potentially contributing too, the role of digital assets is swelling. With the acquisition of DDA, Archax believe they're uniquely positioned to offer comprehensive access to digital assets from native, on-chain crypto via their regulated exchange, to fully institutional-grade crypto ETPs tailored for professional investors. Alongside crypto, Archax also offers tokenised real-world assets (RWAs) - unlocking new efficiencies and investment opportunities through blockchain technology. This combination of native crypto, institutional ETPs, and tokenized RWAs, positions Archax as one of Europe's leading digital asset platforms. Graham Rodford, CEO and co-founder of Archax, comments: 'Archax is an ambitious business, and we believe that our regulatory structure is on the way to becoming one of the most extensive in the digital asset industry, and acquiring DDA furthers that ambition. Germany and France for example, two of the largest and most regulation-driven markets in Europe, are covered via DDA's existing structure and relationships. Hence, I'm delighted to see them joining our Archax family.' Maximilian Lautenschläger, Managing Partner at DDA said: 'We've known the team at Archax for several years and have always seen how complementary our strengths are. Joining their family creates incredible synergy: we bring deep access to institutional investors across Germany, France, and Switzerland who are actively looking for tokenised products. At the same time, Archax opens the door to the UK market, where crypto ETPs are now gaining momentum among professional and soon, retail investors. The timing couldn't be better. Together, we're building what we believe will become the leading European digital asset champion.'
Fibre2Fashion
7 days ago
- Business
- Fibre2Fashion
Germany's About You starts FY25â26 strong with $637.3 mn Q1 revenue
German fashion e-commerce company About You Group has reported a 6 per cent year-on-year (YoY) increase in revenue to €549.4 million (~$637.3 million) in the first quarter (Q1) of fiscal 2025–2026 (FY25–26), supported by strong customer acquisition and a solid start to the Spring/Summer 2025 season. The active customers rose for the group by 8.4 per cent YoY to 13.3 million, and gross profit climbed by 3.6 per cent to €232 million. However, the gross margin declined by 100 basis points to 42.2 per cent due to promotional activity and one-off effects. The profitability improved significantly, with EBITDA growing by 79.1 per cent to €16.3 million, and the EBITDA margin rising to 3 per cent from 1.8 per cent. Adjusted EBITDA increased by 53.9 per cent to €23.2 million, with the margin improving to 4.2 per cent from 2.9 per cent, reflecting enhanced operational efficiency and strict cost control. German fashion e-commerce firm About You has reported a 6 per cent YoY revenue rise to €549.4 million (~$637.3 million) in Q1 FY25â€'26, driven by strong customer growth and a solid season start. EBITDA surged 79.1 per cent, while adjusted EBITDA rose 53.9 per cent. Scayle expanded internationally, and Zalando's acquisition progressed post-EU approval, with a squeeze-out of minority shareholders planned. The capital expenditure (capex) declined by 48.4 per cent to €7.2 million, indicating lower investment outflows. Free cash flow stood at €26.1 million, down 43.2 per cent YoY due to working capital timing effects. Cash and cash equivalents were €160.8 million at the end of the quarter, down from €194.8 million the previous year. Net working capital improved significantly to -€123.3 million from -€63.0 million, driven by inventory optimisation and working capital measures. Both the consumer-facing About You platform and its B2B segment, Scayle, contributed to growth. Scayle continued to invest in international expansion and now serves over 300 brands through its commerce technology and SCAYLE Payments, which recently received BaFin licensing and is expanding across Europe, added the release. Based on Q1 performance and a strong start to Q2, the management board reaffirmed its guidance for FY25–26, expecting moderate revenue growth and strong growth in adjusted EBITDA. Meanwhile, About You's acquisition by Zalando SE is progressing. With European Commission clearance secured, the takeover offer was settled on July 11, 2025, and Zalando plans to initiate a squeeze-out of the remaining minority shareholders. Fibre2Fashion News Desk (SG)
Yahoo
07-07-2025
- Business
- Yahoo
AllUnity obtains EMI licence from BaFin for Euro stablecoin
AllUnity has secured an e-money institution (EMI) licence from the German Federal Financial Supervisory Authority (BaFin). The authorisation enables AllUnity to introduce Germany's BaFin-licenced Euro stablecoin, called EURAU, in compliance with the markets in crypto-assets regulation (MiCAR) framework. The new stablecoin, EURAU, is said to maintain full collateralisation, with "proof-of-reserves" and regulatory reporting, the company claimed. It is designed to facilitate cross-border settlements and can be integrated into the systems of regulated financial institutions, fintechs, and enterprise clients across Europe and beyond. AllUnity CEO Alexander Höptner said: 'This licence is not just a regulatory hurdle cleared, it's a foundational step towards building a truly secure, transparent and compliant digital cross-border payment ecosystem for Europe and global markets. We are immensely proud to be at the forefront of this innovation, meeting the highest standards of regulation and trust with the support of our esteemed partners.' To align with environmental, social, and governance (ESG) standards, AllUnity partnered with Crypto Risk Metrics in February to ensure that the stablecoin issuance adheres to MiCAR regulations under German oversight. AllUnity, a joint venture between DWS, Flow Traders, and Galaxy, offers 24/7 real-time settlement and payment infrastructure. DWS is an asset management firm, while Flow Traders operates in ETPs, with a focus on fixed income, commodities, digital assets and FX globally. Additionally, Galaxy's digital assets platform provides institutional access to trading, investment banking, asset management, staking, self-custody, and tokenisation technology. It provided $200m revolving credit facility to MoonPay in March. "AllUnity obtains EMI licence from BaFin for Euro stablecoin " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Coin Geek
03-07-2025
- Business
- Coin Geek
Sparkassen into 'crypto' trading; Kazakhstan sets up reserve
Getting your Trinity Audio player ready... Sparkassen-Finanzgruppe, a network of savings banks in Germany and Europe's largest financial services network, plans to offer digital asset trading services for its clients within the following year. Sparkassen will enable its over 50 million users in Germany and beyond to trade leading digital assets via its mobile app, Bloomberg reports. The new offering will be managed by DekaBank, a wholly-owned asset manager that handles over $470 billion worth of assets. Speaking to Bloomberg, a DekaBank spokesperson revealed that the group will develop the new product over the course of the next year and intends to launch it by summer 2026. DekaBank is not new to digital assets. In February, the Frankfurt-based bank introduced 'crypto' trading for its institutional clients, two years after it first announced the service. The lender received a digital asset custody license from BaFin and the European Central Bank (ECB). Last year, it issued a digital bond under the ECB's wholesale digital euro trial. Sparkassen is Germany's largest financial services institution and includes 376 local savings banks and six regional public banks. The network manages nearly $3 trillion in assets across banks, insurers, and building societies. According to the German Savings Banks and Giro Association (DSGV), which oversees the savings banks, the digital asset offering was driven by a rise in customer demand. The EU's Markets in Crypto-Assets (MiCA) regulatory framework, which took effect in December last year, has also allowed regulated institutions to venture into digital assets, DSGV added. The new service is a sharp pivot for Sparkassen, which has been anti-digital assets for years. A decade ago, it blocked all digital asset purchases for its customers and, despite industry uproar, stuck to its guns for years. Since then, its executives have advocated against digital assets, citing volatility and a lack of regulation as the biggest concerns. Even after announcing the upcoming 'crypto' service, the network still issued a warning to its customers who intend to dive into digital assets. 'Our position remains clear: cryptocurrencies are highly speculative assets,' the watchdog, DSGV, reiterated. It added that member banks under the Sparkassen network are prohibited from promoting digital asset products and that they must inform customers about the associated risks, 'including the possibility of a total loss.' While Sparkassen is gradually warming up to digital assets, other German banks are going all out. On Tuesday, Bloomberg reported that Germany's largest lender, Deutsche Bank (NASDAQ: DB), intends to launch its digital asset custody service next year, partnering with Austrian exchange Bitpanda for its technology. Last September, Commerzbank (NASDAQ: CRZBY) launched a trading and custody service for its corporate clients, while regional bank LBBW announced a similar program earlier in the year. Kazakhstan to set up national digital asset reserve Elsewhere, Kazakhstan has announced plans to establish a national digital asset reserve that the central bank will manage. The new reserve will be initially funded with the digital assets that Kazakh authorities have seized over the years, reports local outlet Kazinform. Assets mined by national institutions will also be included in the reserve. Kazakhstan is home to one of the world's largest block reward mining industries, ranking third behind the United States and China for BTC hash rate. Appointing the National Bank of Kazakhstan (NBK) to oversee and manage the reserve is a strategic decision that protects national interests, said Timur Suleimenov, the chairman of the central bank, in a response to an inquiry by legislators. He added that the reserve would allow Kazakhstan to gain a foothold in the digital asset economy without the associated risks, which include capital flight. The NBK head called on legislators to formulate laws that would govern how the fund will be managed, who will have the decision-making authority, and when and how the assets can be liquidated. Beyond the fund, the central bank called on parliament to develop policies that will rein in 'crypto' influencers who have been misleading young Kazakhs into risky investments. It also wants a framework that guides the tokenization of traditional financial instruments like stocks and bonds. Watch: Richard Baker on engineering a smarter financial world with blockchain title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen="">
