Deutsche Börse and Commerzbank enter virtual art trading with joint investment in Fintech 360X. Deutsche Börse is investing €10 million for a 50% stake in the start-up. Commerzbank, for its part, does not want to name the invested sum, but the value is said to be significantly lower than that of Deutsche Börse. Together, however, a double-digit million euro contract is being invested.
The partnership allows the partners to combine their strengths. Deutsche Börse is an experienced market infrastructure operator and Commerzbank is known for its digital banking world. Together with the founders of Fintech 360X, they can develop digital marketplaces and generate new revenue potential.
Fintech 360X is a trading platform using blockchain technology. This specific one focuses on hype NFT art and real estate. According to the founders, investors will be able to invest in previously illiquid assets.
Theodor Weimer, CEO of Deutsche Börse, says: “I am convinced that Deutsche Börse must open up new asset classes. In the future, we will see a broad tokenisation and digitisation of assets that are not tradable today. 360X is the new innovative platform of serial marketplaces that we want to build with partners.”
We have informed about the topic of NFT art, how it works and why the hype is so big before.