Summary
German exchange Deutsche Börse Group launched a crypto spot platform called DBDX for trading, settlement, and custody of digital assets. The platform aims to capture the institutional market. It is unclear which crypto assets will be supported. The company acquired a majority stake in Crypto Finance and plans to offer trusted market operations for crypto assets in Europe. European regulators are granting licenses to companies entering the crypto space following the MiCA legislation passed in April 2023. BaFin granted licenses to Crypto Finance for digital asset services in Germany. Deutsche Börse’s launch comes amid a crypto price rally, with bitcoin nearing its all-time high.
Key Points
1. Deutsche Börse Group launched a crypto spot platform called Deutsche Börse Digital Exchange (DBDX) to cater to the institutional market for digital assets.
2. The platform will allow for trading, settlement, and custody of crypto assets, utilizing existing connectivity to market participants, although it is unclear which specific crypto assets will be supported.
3. The launch of Deutsche Börse’s crypto platform aligns with its “Horizon 2026” strategy, aiming to provide trusted market operations for crypto assets and ensuring transparency, security, and regulatory compliance for institutional clients in Europe.