Deutsche Börse Launches Institutional Crypto Trading Platform

German securities marketplace Deutsche Börse has introduced its dedicated cryptocurrency trading platform, Deutsche Börse Digital Exchange (DBDX), targeting institutional clients. The platform, launched in partnership with custody provider Crypto Finance, aims to provide a secure and regulated environment for trading, settlement, and custody of digital assets.

Announced on March 5, DBDX will initially allow institutional clients to trade Bitcoin and Ether against the euro. Trading will commence on a request-for-quote (RfQ) basis, enabling clients to solicit quotes from select counterparties. This process will be followed by a multilateral trading facility, enhancing liquidity by facilitating trades between multiple parties.

According to a Deutsche Börse representative, DBDX’s integrated approach eliminates reliance on external parties for various aspects of the trading process, ensuring transparency and regulatory compliance within the highly regulated environment.

Carlo Kölzer, Head of Digital Assets at Deutsche Börse, emphasised DBDX’s role in providing trusted market operations for crypto assets, emphasising transparency, security, and regulatory compliance for institutional clients across Europe. He highlighted DBDX as the first step toward Deutsche Börse’s ambition to lead the digitalisation of asset classes outlined in its Horizon 2026 strategy.

The launch of DBDX follows Deutsche Börse’s announcement of its digital asset platform in late 2023. The recent acquisition of licenses by Crypto Finance from the German Federal Financial Supervisory Authority (BaFin) enabled the firm to offer regulated digital asset trading, settlement, and custody services, paving the way for DBDX’s launch.

Deutsche Börse’s entry into cryptocurrency trading reinforces its positive stance on digital assets. The company’s electronic trading platform, Xetra, has listed various cryptocurrency-related investment products, including Bitcoin and Ether exchange-traded products. Moreover, Deutsche Börse has actively explored blockchain technology’s potential for operations such as securities financing, signalling its commitment to innovation in the financial sector.