July 16, 2024

German exchange Deutsche Börse launches its spot trading platform for digital assets.

March 05, 2024
1Min Read

A regulated spot marketplace for institutional trading in cryptocurrency assets has been launched by Deutsche Börse.

Prior to multilateral trading, trade on the Deutsche Börse Digital Exchange (DBDX) will occur initially on a Request for Quote basis.

Deutsche Börse uses the market participants' current connectivity to run the trading venue. Settlement and custody services will be offered by Crypto Finance, a Swiss company that just established a German branch.

"We aim to provide trusted market operations for crypto assets, ensuring transparency, security, and regulatory compliance for institutional clients in Europe," says Carlo Kölzer, head of FX & digital assets at Deutsche Börse. This improves security and integrity of the market. A crucial link in the value chain will be Crypto Finance, with its digital native skills in trading, settlement, and custody for crypto assets. This marks the initial stride in achieving Deutsche Börse's goal of being a frontrunner in the digitalization of asset classes, as outlined in the Horizon 2026 strategy.

The Deutsche Börse Group reiterated at the end of 2023 that one of its strategic objectives for Horizon 2026 is to establish a digital asset platform. Crypto Finance (Deutschland) GmbH was awarded four licences by the German regulatory body BaFin in February. These licences cover regulated digital asset trading, settlement, and custody services within Germany. This was an additional requirement for the platform's launch, as it had already been granted a Multilateral Trading Facility (MTF) license.

In other parts of Germany, Boerse Stuttgart has linked 40 institutional users of the WealthTech platform Profidata to its online trading and asset placement platform for cryptocurrency. Through an API link in the company's order management systems, the brokerage system, Boerse Stuttgart Digital, will be incorporated into Profidata's investment management software.

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