Deutsche Börse and Commerzbank have invested in fintech spinoff 360X with the aim of building a blockchain-based digital marketplace for digital asset clases in art and real estate.
The team behind 360X is led by Carlo Kölzer who founded electronic foreign exchange platform 360T in Frankfurt in 2020. The multi-bank platform was subsequently acquired by Deutsche Börse for €725 million in 2015.
Says Kölzer: “360X aims at a megatrend. Digital assets are an exponential growth market. We create new ecosystems and offer investors innovative investment opportunities in assets which they did not have access to before."
Under the plans, tokenised real assets will be mapped onto a blockchain to facilitate access for investors and allow the fractional trading in the underlying asset.
Theodor Weimer, CEO of Deutsche Börse, says: “I am convinced that Deutsche Börse has to venture into 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 for serial marketplace creation that we are building with our partners.”