Deutsche Börse Group, one of the world’s leading exchange organizations, has launched Deutsche Börse Digital Exchange (DBDX), a spot crypto platform for institutional clients.
DBDX offers a fully regulated and secure ecosystem for trading, settlement and custody of crypto assets that leverages existing connectivity with market participants.
The offering fills a gap in the market and places Deutsche Börse at the center of the growing institutional digital asset market, while providing clients with a comprehensive suite of innovative and secure financial solutions for digital assets from a single point of access and across the entire value chain.
As a first step, trading on DBDX will be done on a Request for Quotation (RfQ) basis, followed by multilateral trading. Deutsche Börse operates the trading venue and Crypto Finance (Deutschland) GmbH will provide settlement and custody services.
DBDX supports the necessary development of a trusted digital asset ecosystem that meets institutional quality standards. It also marks an important milestone as it strengthens the Group’s presence and demonstrates its ability to provide innovative financial solutions for digital assets to clients in Germany and other European markets.
Carlo Kölzer, Head of FX & Digital Assets at Deutsche Börse, comments:
“Our new solution is a game changer for digital ecosystems. Our goal is to provide reliable 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 the trading, settlement and custody of crypto assets, will be a key part of the value chain. It is a first step towards realizing Deutsche Börse’s ambition in its Horizon 2026 strategy to play a leading role in the digitization of asset classes.”
Stijn Vander Straeten, CEO of Crypto Finance, states:
“As an established Swiss company with a strong commitment to regulatory compliance and providing leading financial solutions, we have further strengthened our position by introducing Crypto Finance in Germany as a settlement and custodian. This marks a pivotal moment in our mission to cultivate a resilient and reliable digital asset ecosystem together with Deutsche Börse, while also strengthening the established and regulated Crypto Finance custody and settlement offering in Germany.”
At the end of 2023, Deutsche Börse Group confirmed as part of its Horizon 2026 strategy its aim to create a digital asset platform. In February, German regulator BaFin granted Crypto Finance (Deutschland) GmbH four licenses that include regulated digital asset trading, settlement and custody services in Germany. This was another condition to launch the platform, which had already received a Multilateral Trade Facility (MTF) license.