Deutsche Börse has officially launched a regulated spot platform for institutional trading in crypto assets.
Initially, trading on the Deutsche Börse Digital Exchange (DBDX) will occur on a Request for Quote basis, later transitioning to multilateral trading. The exchange utilizes existing connectivity to market participants, while Crypto Finance, the newly established German branch of a Swiss company, will handle settlement and custody services.
Carlo Kölzer, head of FX & digital assets at Deutsche Börse, stated, “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 play a crucial role in our value chain. This marks a significant step towards achieving Deutsche Börse’s objective in the Horizon 2026 strategy to lead in the digitalization of asset classes.”
At the end of 2023, Deutsche Börse Group reiterated its commitment to developing a digital asset platform as part of its Horizon 2026 strategic goals. Earlier in February, the German regulatory authority BaFin granted Crypto Finance (Deutschland) GmbH four licenses for regulated digital asset trading, settlement, and custody services in Germany. This was a necessary step for launching the platform, which had already obtained a Multilateral Trading Facility (MTF) license.
In another development in Germany, Boerse Stuttgart has connected 40 institutional clients from the WealthTech platform Profidata to its digital platform for trading and settlement of crypto assets. The brokerage system, Boerse Stuttgart Digital, will be integrated into Profidata’s investment management software through an API interface in the firm’s order management systems.