German Financial Institution Deutsche Boerse Launches Crypto Trading Platform

Trades in cryptocurrencies are already being conducted on the Deutsche Boerse Digital Exchange (DBDX).

The institutional clientele is the target audience for the regulated spot cryptocurrency trading platform. Additionally, Crypto Finance will offer services related to settlement and custody.

According to a statement released by Deutsche Boerse on Tuesday, the company has launched a cryptocurrency spot trading platform for institutional clients. Deutsche Boerse is the operator of the largest stock exchange in Germany.

According to the company, DBDX provides a blockchain ecosystem that is completely regulated for trading, settlement, and custody of cryptocurrency assets.

The trading on DBDX will first be conducted on a request-for-quote (RFQ) basis, and then it will transition into multilateral trading subsequently. Crypto Finance will be responsible for providing settlement and custody services, while Deutsche Boerse will be in charge of operating the trading venue.

We aim to provide trusted market operations for crypto assets, ensuring transparency, security, and regulatory compliance for institutional clients in Europe," said Carl Koelzer, head of FX and digital assets at Deutsche Boerse. "We are providing these services to institutional clients in Europe.

A total of four licenses were issued to Crypto Finance by the German authority in the previous month. These licenses encompassed digital asset trading, settlement, custody, and custody services in Germany.

Crypto Finance, which is supported by Deutsche Boerse, said in the previous year that it will be collaborating with Apex Group, a provider of financial services, in order to deliver institutional-grade cryptocurrency investment solutions.