Deutsche Börse Group, one of the world’s leading stock exchange organizations, has announced the launch of Deutsche Börse Digital Exchange (DBDX), a crypto spot platform for its corporate customers.
What Will DBDX Cover?
DBDX appears to be moving forward with a vision to provide a fully regulated and secure ecosystem for the trading, exchange, and storage of crypto assets for market participants.
This move related to DBDX aims to fill a gap in the market and positions Deutsche Börse at the center of the growing institutional market for crypto assets.
As a first step, trading on DBDX will be based on a Request for Quote (RfQ) model, which will later be followed by multilateral trading transactions. Deutsche Börse will take on the trading center part of the transactions, while Crypto Finance (Deutschland) GmbH will be the provider of clearing and custody services.
Statements from Company Officials
While Deutsche Börse’s move is thought to strengthen the group’s presence, it is noteworthy that it will offer innovative financial solutions to customers in Germany and other European markets regarding digital assets.
Carlo Kölzer, President of Deutsche Börse FX and Digital Assets, made the following statement:
Our new solution is changing the game for digital ecosystems. We aim to provide reliable market transactions for crypto assets for European institutional clients, ensuring transparency, security, and regulatory compliance. This enhances market integrity and security. Crypto Finance will be an important part of the value chain for trading, clearing, and custody of crypto assets with its digital native capabilities. This is the first step towards achieving Deutsche Börse’s goal of playing a leading role in the digitalization of asset classes as part of its Horizon 2026 strategy.
Stijn Vander Straeten, CEO of Crypto Finance, commented as follows:
As an established Swiss company with a strong commitment to regulatory compliance and providing top-level financial solutions, we have further strengthened our position with the activation of Crypto Finance as a clearing agent and custodian in Germany. This marks a very important milestone in our mission to develop a flexible and reliable digital asset ecosystem together with Deutsche Börse, while also strengthening Crypto Finance’s established and regulated custody and clearing offering in Germany.
At the end of 2023, Deutsche Börse Group once again demonstrated its goal of creating a digital asset platform in line with its adopted Horizon 2026 strategy.
