Deutsche Börse has officially launched its own cryptocurrency trading platform for institutional investors.
On March 5, Deutsche Börse announced the launch of Deutsche Börse Digital Exchange (DBDX), a #cryptocurrency spot trading platform for institutional investors.
DBDX was launched in partnership with custodial provider Crypto Finance and provides a regulated and secure ecosystem for trading, settlement and storage of cryptoassets.
Deutsche Börse noted that the first transactions on DBDX will be made using the request for quotation (RfQ) principle, which is used by companies to request quotes from selected suppliers and contractors.
RfQ trades will be followed by the introduction of a multilateral trading platform, which is a trading system that facilitates the exchange of financial instruments between multiple parties.
DBDX will also offer cryptocurrency trading services to customers in Germany and other European markets, the statement said.
"Our new solution will change the rules of the game in the digital ecosystem. We are committed to creating a robust crypto asset trading platform that is transparent, secure and compliant for European institutional investors," said Carlo Kelzer, head of #digital assets at Deutsche Börse.
"The new platform is the first step towards realizing Deutsche Börse's ambition under its Horizon 2026 strategy to play a leading role in the digitization of the asset class.
Deutsche Börse initially announced its intention to launch a digital asset platform in late 2023, and in February Crypto Finance received four licenses from the German Federal Financial Supervisory Authority (BaFin) to provide regulated trading, settlement and custody services for digital assets in Germany. The company can now offer regulated trading, settlement and custodial services for digital assets in Germany. This development was also a prerequisite for the launch of DBDX.
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