By
Steve Muchoki
February 29th, 2024
With the partnership, comdirect has successfully built a link between cryptocurrency investments and retirement plans, a long-term request of clients.
21Shares AG on Tuesday announced it would collaborate with the German online financial portal comdirect. The partnership will see the Swiss pioneer company for Exchange Traded Products (ETPs), 21Shares AG, continue as the only provider of crypto ETPs to comdirect’s Spar plan.
Already, 11 of 21Share’s ETP offerings are available on the comdirect platform with no commission. As of September 2020, statistics suggested comdirect was providing its services for over 2.5 million users. Using the platform, users can conduct banking and securities trading using agile products and services.
The collaboration between the firms will give interested investors the opportunity to add digital assets to their savings accounts while enjoying the security of investing through their financial institution.
How the Collaboration with comdirect will Affect 21Shares
Commenting on the development, CEO of 21Shares, Hany Rashwan said:
“We were the first crypto issuer to list a fully collateralized, 100% physically backed bitcoin ETP on most German exchanges back in 2019 and today are the only issuer to admit four crypto ETPs on Xetra alone.”
This, he claimed, followed the registration of the entity on the SIX Swiss Exchange in 2018.
By partnering with comdirect, the platform will allow German citizens to diversify into cryptocurrency assets, and add the same to their savings plan – a possibility that wasn’t previously available.
comdirect Product manager, Rene Louis Delrieux, also commented on the collaboration. She said:
“For an outstanding customer experience, investors are now able to use crypto ETPs by 21Shares. This is in line with the needs of our exigent clients and ensures market participation. The extra service can be used immediately because of its flexibility.”
With the partnership, comdirect has successfully built a link between cryptocurrency investments and retirement plans, a long-term request of clients.
About 21Shares
Established in 2018, 21Shares pioneered crypto Exchange Traded Products21 and currently lists about 15 ETPs on its suite with over $1.35B in assets under management. The firm simplifies investments in crypto assets, making it possible to buy and sell cryptocurrency shares through regular brokers and bankers.
About comdirect
Comdirect, a brand of Commerzbank AG, is a German online financial transactions provider. The firm executes transaction orders for stocks listed on the German stock exchanges, including options and futures contracts. It also enables access to 46 stock exchanges outside Germany.