Deutsche Borse introduces crypto spot trading for institutional clients
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Deutsche Borse Group recently went live with a new platform that will allow its institutional clients to engage in the spot trading of crypto assets. The platform is known as Deutsche Borse Digital Exchange (DBDX), and it brings a secure, and fully regulated environment for settling, trading, and custody of digital assets.
A new crypto platform for institutional clients
According to Deutsche Borse, the platform leverages the exchange operator’s extensive network of market participants. This places the German multinational at the forefront of the emerging institutional digital assets sector.
DBDX promises a holistic suite of financial solutions involving digital assets to its clients, and it offers a single point of access, while at the same time, it covers the entire value chain. It is also worth noting that this is not the first crypto exchange that the German operator has launched.
Five years ago now, Boerse Stuttgart launched its own crypto platform called BSDEX, which was fully regulated by BaFin. At the time, the platform was meant to service clients, both in Germany itself, as well as those from the wider European Economic Area (EEA).
However, the exchange shut down last year, after attracting over 890,000 retail clients from all corners of EEA. Instead, the company developed plans to launch a staking service.
As for DBDX, the plans for the initial period are for trading to be conducted on a Request For Quote (RFQ) basis. In time, however, the firm plans to expand to multilateral trading frameworks. Deutsche Borse will operate the exchange itself, but its operations — specifically settlements and custody services — will be under the oversight of Crypto Finance (Deutschland) GmbH.
Crypto Finance will be a key part of the value chain
Deutsche Boerse acquired Crypto Finance only last year, in 2023. The company did not disclose the amount it paid at the time, although it did say that it was a moderate three-digit CHF million range. This suggests that the price was over 100 million Swiss francs (over $113 million).
DBDX was already approved by BaFin last month, in February 2024. The regulator also granted Crypto Finance the necessary licenses for digital asset trading, settlement, and custody.
Meanwhile, Deutsche Borse’s Head of FX & Digital Assets, Carlo Kolzer, stated that the new solution will be 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.” he added.
Meanwhile, the CEO of Crypto Finance, Stijn Vander Straeten, also commented by saying that his company is a well-established Swiss firm with a strong commitment to regulatory compliance and delivering top-tier financial solutions. As such, it has further strengthened its position with the introduction of Crypto Finance in Germany, where it will act as a settlement agent and custodian.
