Deutsche Börse launches spot cryptocurrency trading platform

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Launched jointly with the custody provider Crypto Finance, the DBDX offers an ecosystem for crypto trading, settlement and custody for institutions.

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Deutsche Börse launches spot cryptocurrency trading platform

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German securities marketplace Deutsche Börse has officially launched its own cryptocurrency trading platform targeting institutional clients.

Deutsche Börse announced the launch of its proprietary crypto spot platform for institutional clients, Deutsche Börse Digital Exchange (DBDX), on March 5.

Launched in collaboration with the custody provider Crypto Finance, the DBDX offers a regulated and secure ecosystem for trading, settlement and custody of crypto assets.

Deutsche Börse noted that initial trading on the DBDX will take place on a request-for-quote (RfQ) basis, which is used when a business solicits quotes from select suppliers and contractors.

The RfQ trading will be followed by a multilateral trading facility, which is a trading system facilitating the exchange of financial instruments between multiple parties.

The DBDX plans to provide its crypto trading services to clients in Germany and other European markets, the announcement notes.

“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,” Deutsche Börse’s head of digital assets, Carlo Kölzer, noted.

He mentioned that the new platform is the first step toward realizing Deutsche Börse’s ambition in the Horizon 2026 strategy to play a leading role in the digitalization of asset classes.

Deutsche Börse originally announced its intention to launch a digital asset platform in late 2023. In February, Crypto Finance received four licenses from the German Federal Financial Supervisory Authority (BaFin), which enabled the firm to provide regulated digital asset trading, settlement and custody services in Germany. The regulatory milestone became another precondition to start the DBDX.

Cointelegraph approached Deutsche Börse for a comment regarding the DBDX launch but has yet to receive a response.

Related: Can Bitcoin become legal tender in Europe? One German MP thinks so

Deutsche Börse’s latest move into offering cryptocurrency trading further reaffirms the company’s positive approach to cryptocurrency as the firm has been actively involved in the crypto industry in the past years.

Xetra, the electronic trading platform of Deutsche Börse, has listed multiple cryptocurrency-related investment products, including various Bitcoin (BTC) and Ether (ETH) exchange-traded products by major European issuers like 21Shares.

The securities marketplace has also been actively exploring the benefits of blockchain for operations like securities financing.

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