Deutsche Börse announced the launch of its own spot cryptocurrency platform for institutional clients, Deutsche Börse Digital Exchange (DBDX), on March 5th. Launched in partnership with custodial services provider Crypto Finance, DBDX offers a regulated and secure ecosystem for trading, settlement and custody cryptocurrency assets.
Deutsche Börse noted that initial trading on DBDX will be conducted on a request for quotation (RfQ) basis, which is used when a company requests quotes from selected suppliers and contractors. RfQ trading will be followed by a multilateral trading system, which is a trading system that facilitates the exchange of financial instruments between multiple parties.
The report notes that DBDX plans to provide its cryptocurrency trading services to clients in Germany and other European markets. Deutsche Börse’s head of digital assets, Carlo KÖLZER, noted that the new platform is the first step towards realizing Deutsche Börse’s Horizon 2026 ambitions to play a leading role in the digitalization of asset classes.
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