German stock exchange giant launches DBDX, a fully compliant digital asset trading platform.
Deutsche Börse Group, a leading global exchange organization, has made a significant move into the digital asset space with the launch of its regulated cryptocurrency spot trading platform, Deutsche Börse Digital Exchange (DBDX). The platform, which is tailored to institutional clients, aims to provide a secure and compliant ecosystem for trading, settlement, and custody of digital assets.
DBDX is the result of a collaboration between Deutsche Börse and Swiss-based Crypto Finance (Deutschland) GmbH, which will act as the settlement agent and custodian for the platform.
Carlo Kölzer, Head of FX & Digital Assets at Deutsche Börse, emphasized the significance of the new platform, stating, "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."
The platform will initially operate on a Request for Quote (RfQ) basis, with plans to introduce multilateral trading in the future. By leveraging Deutsche Börse's existing connectivity to market participants, DBDX seeks to fill a gap in the market and provide clients with a comprehensive suite of innovative and secure financial solutions for digital assets from a single point of access.
Prior to the launch, Crypto Finance (Deutschland) GmbH obtained four licenses from the German financial regulator, BaFin, covering regulated digital asset trading, settlement, and custody services in Germany. Additionally, the platform had previously received a Multilateral Trading Facility (MTF) license, further solidifying its regulatory compliance.
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