Deutsche Börse launches regulated spot platform for crypto assets

Deutsche Börse Group, one of the world’s leading exchange organisations, has launched the Deutsche Börse Digital Exchange (DBDX), a crypto spot platform for institutional clients. DBDX offers a fully regulated and secure ecosystem for trading, settlement and custody of crypto assets that leverages the existing connectivity to market participants.

The offering fills a gap in the market and positions Deutsche Börse at the centre of the growing institutional market for digital assets, while providing clients with a comprehensive suite of innovative and secure financial solutions for digital assets from a single point of access and across the value chain.

As a first step, trading on the DBDX will take place on a Request for Quote (RfQ) basis, followed by multilateral trading. Deutsche Börse operates the trading venue and Crypto Finance (Deutschland) GmbH will provide settlement and custody services.

DBDX supports the necessary development of a trusted digital asset ecosystem that meets institutional-grade standards. It also marks a significant milestone as it strengthens the Group’s presence and demonstrates its ability to deliver innovative financial solutions for digital assets to clients in Germany and other European markets.

Carlo Kölzer, Head of FX & Digital Assets at Deutsche Börse, comments: “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 for crypto assets, will be a key part of the value chain. It is a first step towards realising Deutsche Börse’s ambition in the Horizon 2026 strategy to play a leading role in the digitalisation of asset classes.”

Stijn Vander Straeten, CEO of Crypto Finance, states: “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.”

At the end of 2023 Deutsche Börse Group reaffirmed within the Horizon 2026 strategy its objective to create a digital asset platform. In February, German regulator BaFin granted Crypto Finance (Deutschland) GmbH four licences which include regulated digital asset trading, settlement, and custody services in Germany. This was another precondition to start the platform, which had received a Multilateral Trading Facility (MTF) licence before already.

About Deutsche Börse

As an international exchange organisation and innovative market infrastructure provider, Deutsche Börse Group ensures capital markets that are transparent, reliable and stable. With its wide range of products, services and technologies, the Group organises safe and efficient markets for sustainable economies. Its business areas cover the entire financial market transaction process chain. This includes the provision of indices, data, software, SaaS and analytical solutions as well as admission, trading and clearing. Additionally, it comprises services for funds, the settlement and custody of financial instruments as well as the management of collateral and liquidity. As a technology company, the Group develops state-of-the-art IT solutions and offers IT systems all over the world. With more than 14,000 employees, the Group has its headquarters in the financial centre of Frankfurt/Rhine-Main, as well as a strong global presence in locations such as Luxembourg, Prague, Cork, London, Copenhagen, New York, Chicago, Hong Kong, Singapore, Beijing, Tokyo and Sydney.