Key Insights
- Deutsche Boerse launches regulated crypto trading platform DBDX for institutional investors
- Will offer trading, settlement and custody for digital assets with transparency and compliance
- Subsidiary Crypto Finance (Deutschland) GmbH to provide settlement and custody services
FRANKFURT (MarketsXplora) – Deutsche Boerse unveiled its new digital asset exchange on Tuesday, a regulated venue allowing institutional investors to trade and custody cryptocurrencies, in a major embrace of the asset class by one of Europe’s biggest financial infrastructure providers.
The Deutsche Boerse Digital Exchange (DBDX) aims to bridge the gap for regulated crypto trading among banks and asset managers.
It will initially operate as a request-for-quote system before multilateral order book trading is introduced, said Carlo Koelzer, Head of FX and Digital Assets at Deutsche Boerse.
“Our new solution offers trusted crypto market operations ensuring transparency, security and compliance for institutional clients in Europe,” Koelzer said, describing it as a “game changer”.
Exchange subsidiary Crypto Finance (Deutschland) will handle settlement and custody services for assets traded on DBDX after obtaining German regulatory licenses.
The platform’s rollout aligns with Deutsche Boerse’s 2026 strategy targeting the digital asset space and comes as trading volumes dipped at its main Xetra and Frankfurt venues last year.
The exchange operator reported 2023 total cash equities turnover dropping 21% to 1.2 trillion euros ($1.30 trillion), hit by broader industry volatility and lower levels of trading activity among retail investors.
Though lower than 2022’s 1.6 trillion euros, monthly volumes picked up later in the year with December turnover reaching 97.4 billion euros.
While Deutsche Boerse’s cash trading revenues fell, the group in February posted a 24% overall revenue jump for 2022 on the back of higher earnings at its derivatives, clearing and post-trade divisions.
Full year net profit jumped by the same margin to 1.56 billion euros.
The DBDX’s launch represents a shift by the exchange to offer services within the fast-growing, if volatile, crypto market – which has eyed more regulated venues to attract mainstream investors.
A growing number of traditional market operators, from ICE to SIX and Eurex, have been rolling out digital asset services in recent years.
Stijn Vander Straeten, CEO of Crypto Finance, said the DBDX venture expands its Swiss parent firm’s regulatory compliance capabilities.
“We’ve strengthened our position with Crypto Finance in Germany as the settlement agent and custodian,” he said.
Further details of the initial cryptocurrencies to be listed on DBDX along with fees and trading volumes are expected after the launch.