Deutsche Börse Goes Live With Deutsche Börse Digital Exchange (DBDX) for Regulated Institutional Crypto Trading

March 05, 2024 - Deutsche Börse Group has launched a new trading platform, the Deutsche Börse Digital Exchange (DBDX), providing a regulated spot market for crypto assets designed specifically for institutional clients. The DBDX platform offers a secure and compliant ecosystem, facilitating trading, settlement, and custody of crypto assets.

The new platform aligns with Deutsche Börse's strategic objectives and caters to the growing demand from institutional clients for a regulated, transparent, and secure environment for digital asset transactions. Initially, DBDX will operate on a Request for Quote (RfQ) model, with plans to evolve into a multilateral trading framework. Deutsche Börse oversees the trading platform operations, and settlement and custody services are handled by Crypto Finance (Deutschland) GmbH.

DBDX is seen as a significant step in developing a reliable digital asset ecosystem that adheres to institutional-grade standards. It also serves as a key initiative in Deutsche Börse's Horizon 2026 strategy, which outlines the Group's ambition to be at the forefront of digital asset class evolution.

Carlo Kölzer, Head of FX & Digital Assets at Deutsche Börse, underlined the platform's significance, saying, "Our new solution is a game changer for digital ecosystems. We aim to provide trusted market operations for crypto assets, ensuring transparency, security, and regulatory compliance for institutional clients in Europe. This enhances market integrity and security. Crypto Finance, with its digital native capabilities in trading, settlement, and custody for crypto assets, will be a key part of the value chain. It is a first step towards realizing Deutsche Börse’s ambition in the Horizon 2026 strategy to play a leading role in the digitalization of asset classes.”

Echoing the sentiment, Stijn Vander Straeten, CEO of Crypto Finance, commented, “As a well-established Swiss company with a strong commitment to regulatory compliance and delivering top-tier financial solutions, we have further strengthened our position with the introduction of Crypto Finance in Germany as the settlement agent and custodian. This marks a pivotal moment in our mission to cultivate a resilient and trusted digital asset ecosystem together with Deutsche Börse, while also strengthening Crypto Finance's well-established and regulated custody and settlement offering in Germany.”

The platform’s commencement follows the regulatory approval by BaFin for Crypto Finance (Deutschland) GmbH to conduct digital asset trading, settlement, and custody services in Germany earlier in the year, setting the stage for DBDX's debut as a licensed Multilateral Trading Facility (MTF).