Deutsche Digital Assets (DDA), an issuer of crypto white label exchange traded products (ETPs) has partnered with Nordic cryptocurrency exchange Safello to issue crypto backed ETPs. As a next step, following authorisation under the Markets in crypto assets regulation (MiCA), Safello also aims to act as custodian of the underlying crypto assets.
The partnership will see DDA “issue, list, and engage third parties to distribute ETPs with crypto exposure carrying the Safello brand” through its white label crypto ETP platform. This is under the condition that DDA first obtains approval as an issuer from Nasdaq Stockholm. The first ETP to be issued will be fully backed by Bitcoin.
In a press release, DDA states that the partnership allows it to “meet the demand for transparent, regulated, and exchange listed crypto products making crypto investments accessible both for institutional and retail investors”.
