Deutsche Boerse launches spot crypto platform for institutions

Deutsche Börse announced the launch of a new crypto spot platform for institutions in collaboration with Crypto Finance, a FINMA-regulated provider of trading it acquired in 2021.

Deutsche Börse Group, a German multinational financial behemoth, has announced the launch of the Deutsche Börse Digital Exchange (DBDX), a crypto trading platform for institutional clients seeking crypto spot trading services.

In a press release on Mar. 5, the Frankfurt-headquartered company said the new platform made in collaboration with Crypto Finance is offering not only trading and settlement, but also custody of cryptocurrencies.

“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.”

Carlo Kölzer, head of FX & Digital Assets at Deutsche Börse

Initially, DBDX will operate on a request-for-quote basis, with plans for multilateral trading in the future. Deutsche Börse will oversee the trading venue, while Crypto Finance will manage settlement and custody services.

The launch follows Crypto Finance’s recent acquisition of four licenses from the German Federal Financial Supervisory Authority (BaFin) for its local subsidiary. As crypto.news earlier reported, Deutsche Börse bought a majority stake in the Switzerland-based fintech company in 2021 in a bid to extend its crypto offerings, including post-trade services such as custody.

At the time, Thomas Book, an executive board member for Trading & Clearing at Deutsche Börse, highlighted that the investment was prompted by a growing demand from established financial institutions seeking to engage in the emerging asset class. The specific terms of the transaction were not disclosed.