European securities exchange leader Deutsche Börse recently announced the official launch of its regulated cryptocurrency trading platform DBDX, targeting institutional clients and providing spot trading and custody services.
Background:
As previously reported, Deutsche Börse, one of Europe’s largest securities exchanges, planned to launch a compliant cryptocurrency exchange in 2024, venturing into tokenized securities and stablecoins.
Invesco, a trillion-dollar investment company, listed a Bitcoin spot ETP on the Deutsche Börse, and WisdomTree introduced three cryptocurrency asset ETPs.
Deutsche Börse, one of Europe’s largest securities exchanges, announced last November its plans to launch a regulated cryptocurrency exchange in 2024. It also intends to issue stablecoins to advance its “Horizon 2026” strategy.
Deutsche Börse launches cryptocurrency trading platform DBDX:
Just yesterday (5th), Deutsche Börse announced on its official website that it has officially launched its compliant cryptocurrency trading platform DBDX. Deutsche Börse will be responsible for operations, while Crypto Finance will handle transactions 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 multilateral trading may be introduced in the future. However, DBDX is currently only available to institutional investors and offers spot trading.
Furthermore, Deutsche Börse emphasized the compliance of DBDX. Last month, the German Federal Financial Supervisory Authority (BaFin) issued four licenses to Crypto Finance, including regulated digital asset trading, clearing, and custody services.
Carlo Kölzer, Head of Foreign Exchange and Digital Assets at Deutsche Börse, commented:
“Deutsche Börse actively embraces Web3. By launching the cryptocurrency trading platform DBDX, one of Europe’s largest traditional financial institutions undoubtedly provides a new channel for traditional finance to enter Web3.”
In addition to entering the cryptocurrency trading market, Deutsche Börse has explored other areas 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 together with Deutsche Bank, targeting the art, music, and real estate markets.
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