Deutsche Börse has released a cryptoasset spot trading platform targeted at institutional clients as the latest step in its digital strategy.
The German exchange group announced a commitment at the end of 2023 to deliver an integrated digital asset platform as part of its Horizon 2026 programme.
The new cryptoasset trading platform, named the Deutsche Börse Digital Exchange (DBDX), is designed to deliver a fully regulated and secure environment for institutional trading, settlement and custody for this digital asset class.
Deutsche Börse indicates that initial trading on DBDX will be on a request-for-quote basis, with multilateral trading to follow. The trading venue is operated by Deutsche Börse, with Crypto Finance (Deutschland) providing digital asset clearing and settlement services.
BaFin, the German financial regulator, granted four licences in February to Crypto Finance (Deutschand) authorising delivery of digital asset trading, settlement and custody services in Germany.
Prior to this, DBDX had already been granted a licence as a multilateral trading facility (MTF).
Carlo Kölzer, Deutsche Börse’s head of FX & Digital Assets, comments: “Our new solution is a game changer for digital ecosystems. We aim to provide trusted market operations for crypto assets, ensuring transparency, security, and regulatory compliance for institutional clients in Europe.
“This enhances market integrity and security. Crypto Finance, with its digital native capabilities in trading, settlement, and custody for crypto assets, will be a key part of the value chain. It is a first step towards realising Deutsche Börse’s ambition in the Horizon 2026 strategy to play a leading role in the digitalisation of asset classes.”
Stijn Vander Straeten, CEO of Crypto Finance, adds: “As a well-established Swiss company with a strong commitment to regulatory compliance and delivering top-tier financial solutions, we have strengthened our position with the introduction of Crypto Finance in Germany as the settlement agent and custodian.
“This marks a pivotal moment in our mission to cultivate a resilient and trusted digital asset ecosystem together with Deutsche Börse, while also strengthening Crypto Finance's well-established and regulated custody and settlement offering in Germany.”
