Deutsche Börse Group has introduced the Deutsche Börse Digital Exchange (DBDX), a new crypto trading platform tailored for institutional clients interested in crypto spot trading services. This initiative, announced in collaboration with Crypto Finance, a FINMA-regulated trading provider acquired by Deutsche Börse in 2021, marks a significant move in the digital asset space.

Key Points:

  • DBDX offers trading, settlement, and custody services for cryptocurrencies.
  • The platform will initially operate on a request-for-quote basis.
  • Plans for multilateral trading are in the pipeline.
  • Deutsche Börse will oversee the trading venue, while Crypto Finance will manage settlement and custody services.

In line with Deutsche Börse’s Horizon 2026 strategy, the launch of DBDX is a strategic step towards the company’s goal of leading the digitalisation of asset classes. Carlo Kölzer, head of FX & Digital Assets at Deutsche Börse, emphasized the significance of this move for the company’s future ambitions.

Crypto Finance’s recent acquisition of licenses from BaFin for its local subsidiary paved the way for this collaboration. Deutsche Börse’s majority stake acquisition of Crypto Finance in 2021 was driven by the increasing demand from traditional financial institutions looking to enter the crypto space.

Thomas Book, an executive board member at Deutsche Börse, highlighted the growing interest from established financial institutions in engaging with cryptocurrencies. The specific terms of the acquisition were not disclosed, but this partnership signifies a strategic step towards expanding Deutsche Börse’s crypto offerings.

For more updates on the latest developments in the cryptocurrency space, continue exploring news on Global Crypto News.

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