Deutsche Börse Introduces Innovative Crypto Trading Platform
German financial institution Deutsche Börse has recently unveiled its own platform dedicated to trading cryptocurrencies, specifically targeting institutional investors.
The launch of the platform, called Deutsche Börse Digital Exchange (DBDX), was announced on March 5th in collaboration with Crypto Finance, a provider of custody services. This platform aims to provide a secure and regulated environment for the trading, settlement, and custody of digital assets, catering specifically to institutional clients.
Initially, trading on DBDX will operate on a request-for-quote (RfQ) basis, a method commonly used in business procurement to solicit quotes from selected suppliers. This will later be followed by the introduction of a multilateral trading facility, enabling the exchange of financial instruments among multiple parties.
Deutsche Börse plans to extend its cryptocurrency trading services not only to clients in Germany but also to other European markets.
According to Carlo Kölzer, head of digital assets at Deutsche Börse, the platform represents a significant advancement towards establishing trusted market operations for digital assets. Kölzer views this initiative as a crucial step towards realizing Deutsche Börse’s strategic objectives outlined in its Horizon 2026 strategy, aimed at leading the digitalization of asset classes.
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This development follows Deutsche Börse’s earlier announcement of its intention to launch a digital asset platform in late 2023. With Crypto Finance obtaining four licenses from the German financial regulator BaFin in February, including those for regulated digital asset trading and custody services, the launch of DBDX became feasible.
Despite attempts to obtain further comments from Deutsche Börse regarding the DBDX launch, no response has been received to date.
Deutsche Börse’s foray into cryptocurrency trading underscores its forward-thinking approach towards digital assets.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
