- Deutsche Börse has launched its cryptocurrency spot trading platform Deutsche Börse Digital Exchange (DBDX).
- DBDX will provide cryptocurrency trading services to institutional clients.
- Swiss-based platform Crypto Finance is its payment and storage partner.
Deutsche Börse, a leading securities and markets infrastructure provider, announced the launch of its cryptocurrency spot trading platform.
in press release Mondays for institutional clients.
Deutsche Börse Group said the Deutsche Börse Digital Exchange (DBDX) will target institutional clients and offer a fully regulated trading ecosystem. The settlement and storage of users’ cryptocurrency assets will utilize the services of Crypto Finance, a storage service provider.
Initially, access to cryptocurrency trading on the new platform will be on a Request-for-Quote (RfQ) basis. This means that customers must request quotes from selected providers.
“Our new solution is a game-changer for the digital ecosystem. We aim to provide reliable market operations for crypto assets and ensure transparency, security and regulatory compliance for our European institutional clients.“Carlo Kölzer, head of FX and digital assets at Deutsche Börse, said in a statement.
The launch of DBDX follows Crypto Finance’s recent approval as a regulated provider of cryptocurrency trading, settlement and custody services. The Swiss-based platform received the required license from German regulator BaFin in February this year.
“This is a pivotal moment in our mission to foster a resilient and trustworthy digital asset ecosystem together with Deutsche Börse, while strengthening Crypto Finance’s well-established and regulated custody and settlement services in Germany.said Stijn Vander Straeten, CEO of Crypto Finance.