Crypto Finance, a financial platform under Deutsche Börse Group that provides professional digital asset solutions to institutional clients, has now launched Chainlink's Proof of Reserve. As the first user, nxtAssets now enables on-chain verification of physically-backed Ethereum and Bitcoin exchange-traded products (ETPs) held on Crypto Finance. Chainlink's Proof of Reserve enables investors to independently verify the actual holdings behind the ETPs. This innovation provides investors with additional transparency and security, establishing a new standard of trust in the digital asset market. The setup combines three key roles: nxtAssets issues and manages the ETPs, Crypto Finance provides compliant custody of the underlying assets, and Chainlink provides tamper-proof reserve data on-chain. “Transparency in digital asset markets requires not only regular reporting but also continuously verifiable data,” said Fernando Vazquez, President of Banking and Capital Markets at Chainlink Labs. “By integrating Chainlink’s Proof of Reserves, Crypto Finance demonstrates how a regulated custodian can provide investors with assurance that each product is backed by the underlying assets. Starting with the first two nxtAssets ETPs, this live implementation sets a new benchmark for trust and accountability in the global ETP market, with more products to come.”
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