The group "Deutsche Börse" today launched Deutsche Börse Digital Exchange (DBDX), a crypto spot platform for institutional clients, Deutsche Börse announced. DBDX offers a fully regulated and secure ecosystem for trading, settlement and custody of crypto assets, leveraging the existing connectivity of market participants.

With the new offering, the German stock exchange aims to close a gap in the market and at the same time move to the center of the growing institutional market for digital assets. Customers will receive a comprehensive range of innovative and secure solutions from a single source and across the entire value chain.

In the first step, trading on DBDX will be based on a request for quote (RFQ) functionality, with multilateral trading also being possible at a later stage, Deutsche Börse announced. While they will operate the trading venue, Crypto Finance (Germany) GmbH will handle the settlement and custody of trades. Crypto Finance is a wholly owned subsidiary of Deutsche Börse.

DBDX also supports the necessary further development of the market for digital assets into a trustworthy ecosystem that meets institutional standards. In addition, the market entry represents an important milestone as it strengthens Deutsche Börse Group's presence in this area and underlines its ability to offer innovative financial solutions to clients in Germany and other European markets.

Carlo Kölzer, Head of FX & Digital Assets at Deutsche Börse, comments: "Our new offering is a game changer for digital ecosystems. We want to offer institutional clients in Europe trustworthy markets for crypto assets that are characterized by transparency and security and in which the processes comply with regulatory requirements. This strengthens the integrity and security of the entire market. As a digital native for trading, settlement and custody of crypto assets, Crypto Finance plays a key role in the value chain. This is a first step towards Deutsche Börse's goal of taking a leading role in the digitalization of asset classes as set out in the Horizon 2026 strategy."

Stijn Vander Straeten, CEO of Crypto Finance, says: "With the launch of Crypto Finance in Germany as a settlement and custody agent, we have further strengthened our position as an established Swiss company that stands for regulatory compliance and best-in-class financial services. This is a pivotal moment in our endeavor to create a stable and trusted digital asset ecosystem together with Deutsche Börse, while strengthening Crypto Finance's established and regulated custody and settlement offering in Germany."

At the end of 2023, Deutsche Börse Group confirmed its goal of establishing a regulated platform for digital assets as part of its "Horizon 2026" strategy. In February, BaFin granted Crypto Finance (Germany) GmbH four licenses covering, among other things, regulated trading in digital assets as well as settlement and custody services. These licenses were among the prerequisites for the launch of the platform, which had already received a license as a Multilateral Trading Facility (MTF).