Spot cryptocurrency trading platform launched by Deutsche Börse

Deutsche Börse, the German securities marketplace, has officially unveiled its own cryptocurrency trading platform targeted at institutional clients. The platform, called Deutsche Börse Digital Exchange (DBDX), was launched in partnership with custody provider Crypto Finance. DBDX offers a secure and regulated ecosystem for trading, settlement, and custody of crypto assets. Initially, trading on the platform will be conducted on a request-for-quote (RfQ) basis, followed by a multilateral trading facility. The DBDX aims to provide its services to clients in Germany and other European markets. This launch is a significant step towards Deutsche Börse’s goal of leading the digitalization of asset classes, as outlined in its Horizon 2026 strategy. The company had previously announced plans to launch a digital asset platform in late 2023. Crypto Finance’s recent acquisition of four licenses from the German Federal Financial Supervisory Authority (BaFin) enabled the firm to offer regulated digital asset trading, settlement, and custody services in Germany, paving the way for the DBDX launch. Deutsche Börse has been actively involved in the cryptocurrency industry, listing various cryptocurrency-related investment products on its electronic trading platform, Xetra, and exploring the use of blockchain for securities financing.