Deutsche Boerse launches regulated crypto exchange for institutions

DBDX plans to offer its cryptocurrency trading services to clients in Germany and other European markets

05.03.2024 - 12:08

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3 min

What’s new? On March 5, German stock market operator Deutsche Boerse (DBDX) announced the launch of a platform for trading crypto assets. According to the company, the fully regulated Deutsche Boerse Digital Exchange will target institutional clients. DBDX plans to provide services to clients in Germany and other European markets.

Deutsche Boerse’s press release

What else is known? DBDX, launched in collaboration with custodial provider Crypto Finance, offers a regulated and secure ecosystem for trading, settlement, and storage of cryptocurrencies. Deutsche Boerse noted that initial trading on the platform will be on a Request for Quote (RfQ) basis.

RfQ-based trading will be followed by a multilateral trading system that facilitates the exchange of financial instruments between multiple parties.

Deutsche Boerse’s Head of Digital Assets Carlo Kölzer said that “DBDX is committed to providing robust market transactions in crypto assets, ensuring transparency, security and compliance for institutional clients in Europe.”

He noted that the new platform is the first step towards realizing Deutsche Boerse’s ambitions under its Horizon 2026 strategy of taking a leading role in the digitalization of various asset classes.

JPMorgan: 78% of institutions do not plan to conduct crypto trading

Only 7% of respondents mentioned the significant impact of blockchain technology on trading

What is known about Deutsche Börse? This is one of the largest stock exchange organizations in the world, founded in 1992. The company was established in the form of a joint stock company and organizes the work of various securities markets. The headquarters of Deutsche Börse is located in Frankfurt am Main.

In February, US crypto exchange Kraken also launched a platform for institutional investors such as banks, asset managers, hedge funds, and high-net-worth individuals.

In early January, Germany’s third-largest bank DZ Bank announced the piloting of a cryptocurrency trading service for retail customers. Earlier, German software giant SAP began testing the USDC stablecoin for cross-border payments, and local DeFi platform Swarm launched a trading platform for tokenized assets.

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