Frankfurt-based exchange provider Deutsche Börse (ETR:DB1) has announced that its newly established digital exchange DBDX has successfully launched and settled its first trades.
In the first transactions by ICF Bank and Bankhaus Metzler on DBDX, the crypto-asset Ether was traded and settled against Euros. The crypto spot platform initially offers trading in Bitcoin and Ether.
ICF and Metzler are the first pilot customers to use DBDX, which is designed for institutional market participants, through Deutsche Börse’s T7 trading architecture. The negotiation is currently being conducted on a Request for Quotation (RfQ) basis. While DBDX manages the trading venue, Crypto Finance provides settlement and custody of crypto assets.
Carsten Rössner, Chief Operations & IT Officer at ICF BANK, summarizes:
“We are pleased to process the first cryptocurrency transactions on Deutsche Börse Digital Exchange DBDX’s T7 trading architecture and Crypto Finance’s custodial infrastructure. Trading technology and, in particular, the use of a secure DLT infrastructure is an important step for our company in the further development of our trading offering and the efficiency of our secure settlement processes.”
Mario Mattera, Member of the Executive Board of Metzler Bank, says:
“We are seeing a growing institutional adoption of blockchain technology in the financial sector. Participation as a pilot customer of Deutsche Börse offers us the opportunity to support our long-term partner in building a Digital Exchange and to prepare our processes for possible offers. At the same time, we are emphasizing the strategic focus on blockchain within Metzler, which has been institutionalized with the establishment of the “Digital Asset Office”.
Miryusup Abdullaev, CEO of DBDX commented:
“The successful launch of DBDX is a decisive first step towards a fully regulated and secure ecosystem for trading, settlement and custody of crypto assets, where market participants benefit from existing technical connectivity. I look forward to further expanding this new ecosystem together with our customers. We thank our pilot clients, ICF Bank and Metzler, as well as the Deutsche Börse Group teams for their commitment to achieving this milestone together.”
About DBDX
Deutsche Börse Digital Exchange (DBDX) is a spot crypto platform that offers institutional clients access to digital assets. The platform was launched early last week and offers a regulated ecosystem for trading, settlement and custody of crypto assets from a single access point. Trading takes place via the T7 trading architecture, which is also used in Xetra trading on, among others, Börse Frankfurt, Eurex, the European Energy Exchange (EEX) and the Bombay Stock Exchange.