By Cecilia Butini

Deutsche Boerse AG said Tuesday that it has acquired a majority stake in Switzerland-based securities firm Crypto Finance AG, with an investment in a "moderate three-digit Swiss francs million range."

The German stock exchange operator said the remaining shares will stay with existing investors, including Crypto Finance founder and Chief Executive Jan Brzezek.

The transaction is expected to close in the fourth quarter of 2021, pending regulatory approvals, and no further terms of the transaction were disclosed, Deutsche Boerse said.

"The acquisition is an important step on Deutsche Börse's way to building a trusted and fully regulated digital asset ecosystem in Europe," the stock exchange operator said.

Write to Cecilia Butini at cecilia.butini@wsj.com

(END) Dow Jones Newswires

June 29, 2021 04:45 ET (08:45 GMT)

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