The leading European stock exchange, Deutsche Börse, recently announced the official launch of its regulated cryptocurrency trading platform, DBDX. The platform is aimed at institutional clients and provides spot trading and custody services.
Last November, Deutsche Börse, one of the largest stock exchanges in Europe, announced its plans to launch a regulated cryptocurrency exchange by 2024. It also planned to issue stablecoins as part of its “Horizon 2026” strategy.
Deutsche Börse launches cryptocurrency trading platform DBDX
Just yesterday, Deutsche Börse announced on its official website that it has officially launched its compliant cryptocurrency trading platform, DBDX. Deutsche Börse will be responsible for operating the platform, while Crypto Finance will handle the trading and provide custody services.
Note: Deutsche Börse is the largest shareholder of Swiss cryptocurrency company Crypto Finance. The group acquired the trading and brokerage firm for 100 million Swiss francs in 2021.
Deutsche Börse stated that trading on DBDX will be conducted through “request for quote” and multi-lateral trading may also be introduced in the future. However, DBDX is currently only available to institutional investors and offers spot trading.
Furthermore, Deutsche Börse emphasizes the compliance of DBDX. Last month, the German Federal Financial Supervisory Authority (BaFin) issued four licenses to Crypto Finance, including regulated digital asset trading, settlement, and custody services.
In response, Carlo Kölzer, Head of Foreign Exchange and Digital Assets at Deutsche Börse, stated:
“Deutsche Börse embraces Web3”
As one of the largest traditional financial institutions in Europe, Deutsche Börse’s launch of the cryptocurrency trading platform DBDX undoubtedly provides a new channel for traditional finance to enter Web3.
In addition to entering the cryptocurrency trading market, Deutsche Börse has also made other explorations in the cryptocurrency field:
Deutsche Börse is active in tokenized securities, funds, and alternative assets. Its D7 digital securities registration system utilizes distributed ledger technology (DLT).
In August last year, Deutsche Börse acquired the fund distribution platform “fundsDLT” based in Luxembourg and integrated it with the D7 digital securities.
Deutsche Börse also invested in tokenized asset platform 360X along with Deutsche Bank, targeting the art, music, and real estate markets.
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