The German securities marketplace, Deutsche Börse, has officially launched its own cryptocurrency trading platform, targeting institutional clients.
On March 5, Deutsche Börse announced the launch of its proprietary crypto spot platform for institutional clients, called Deutsche Börse Digital Exchange (DBDX).
Developed in collaboration with the custody provider Crypto Finance, the DBDX offers a regulated and secure ecosystem for trading, settlement, and custody of crypto assets.
Initially, trading on the DBDX will be conducted on a request-for-quote (RfQ) basis, where businesses solicit quotes from select suppliers and contractors.
Subsequently, the platform will introduce a multilateral trading facility, facilitating the exchange of financial instruments between multiple parties.
The DBDX aims to provide its crypto trading services to clients in Germany and other European markets, according to the announcement.
Our latest solution represents a significant advancement for digital ecosystems. Our goal is to deliver reliable market operations for crypto assets, guaranteeing transparency, security, and regulatory compliance for institutional clients across Europe,” commented Carlo Kölzer, head of digital assets at Deutsche Börse
He stated that the new platform marks the initial stride towards realizing Deutsche Börse’s aspiration outlined in the Horizon 2026 strategy to assume a leading role in the digitalization of asset classes.
Deutsche Börse initially disclosed its intention to inaugurate a digital asset platform in late 2023. In February, Crypto Finance obtained four licenses from the German Federal Financial Supervisory Authority (BaFin), enabling the provision of regulated digital asset trading, settlement, and custody services in Germany. This regulatory achievement served as another prerequisite for the launch of DBDX.
Cointelegraph reached out to Deutsche Börse for comment regarding the DBDX launch but has not yet received a response.
Deutsche Börse’s recent venture into offering cryptocurrency trading further underscores the company’s positive stance towards cryptocurrency, given its active involvement in the crypto industry over the past years.