“Our new solution is a game changer for digital ecosystems. We aim to provide trusted market operations for crypto assets, ensuring transparency, security, and regulatory compliance for institutional clients in Europe.”
Deutsche Börse Group has gone live with a platform for the spot trading of crypto assets, specifically designed for institutional clients.
The launch of Deutsche Börse Digital Exchange (DBDX) introduces a secure and fully regulated environment for trading, settling, and custody of digital assets, leveraging the exchange operator’s extensive network of market participants. Placing Deutsche Börse at the forefront of the burgeoning institutional digital assets sector, DBDX promises clients a holistic suite of financial solutions for digital assets, offering a single point of access and covering the entire value chain.
DBDX is not the first digital asset exchange being launched by a German operator. In 2019, Boerse Stuttgart launched its own crypto exchange, BaFin-regulated BSDEX, to service clients in Germany and the European Economic Area (EEA). BSDEX ended last year with 890,000 retail customers in Europe with plans to launch a staking service.
From RFQ to multilateral trading frameworks
Initially, trading on DBDX will be conducted on a Request for Quote (RFQ) basis, with plans to expand to multilateral trading frameworks. The exchange is operated by Deutsche Börse, while Crypto Finance (Deutschland) GmbH will oversee settlement and custody services.
Deutsche Boerse acquired Crypto Finance in 2023. At the time, the company didn’t disclose the purchase price but said it was a “moderate three-digit CHF million range,” which means it paid more than 100 million Swiss francs.
The launch of DBDX follows the German financial regulatory authority BaFin’s approval in February, granting Crypto Finance (Deutschland) GmbH necessary licenses for digital asset trading, settlement, and custody.
“A game changer for digital ecosystems”
Carlo Kölzer, Head of FX & Digital Assets at Deutsche Börse, commented: “Our new solution is a game changer for digital ecosystems. We aim to provide trusted market operations for crypto assets, ensuring transparency, security, and regulatory compliance for institutional clients in Europe. This enhances market integrity and security. Crypto Finance, with its digital native capabilities in trading, settlement, and custody of crypto assets, will be a key part of the value chain. It is a first step towards realizing Deutsche Börse’s ambition in the Horizon 2026 strategy to play a leading role in the digitalization of asset classes.”
Stijn Vander Straeten, CEO of Crypto Finance, said: “As a well-established Swiss company with a strong commitment to regulatory compliance and delivering top-tier financial solutions, we have further strengthened our position with the introduction of Crypto Finance in Germany as the settlement agent and custodian. This marks a pivotal moment in our mission to cultivate a resilient and trusted digital asset ecosystem together with Deutsche Börse, while also strengthening Crypto Finance’s well-established and regulated custody and settlement offering in Germany.”
