Deutsche Börse Launches 3DX Digital Exchange for Institutional Crypto Trading

Deutsche Börse has launched the 3DX Digital Exchange by integrating its crypto platform with 360T, expanding services to include spot trading. Following the MiCA regulations, it has secured approval from BaFin, and aims to provide a complete crypto trading solution. The platform allows institutions to source liquidity from multiple market makers and supports crypto trading in BTC and ETH.

Deutsche Börse has officially launched its 3DX Digital Exchange, integrating the existing Deutsche Börse Digital Exchange (DBDX) with its FX trading platform, 360T. This new platform is aimed primarily at institutional clients, allowing for seamless connectivity and workflows, while also expanding its offerings from crypto non-deliverable forwards (NDFs) to the spot market.

A key development since last year’s unveiling is the implementation of Europe’s MiCA crypto regulations. Just a month prior, 360T obtained a license from BaFin, which enables it to function as a crypto trading platform. This is significant as it provides a comprehensive solution for clients, including custody and settlement services through its sister firm, Crypto Finance, which is fully licensed by BaFin. For its initial phase, 3DX is set up for bilateral settlement, with plans to expand functionality over time, similar to how DBDX transitioned to continuous trading.

It’s important to note that 360T does not act as a liquidity provider, instead offering a neutral platform. Institutions can source liquidity from various market makers, ensuring that the trading experience remains competitive. The platform will list prices for BTC and ETH in both euros and dollars, catering to a diverse range of users.

Carlo Kölzer, CEO of 360T and Head of FX and Digital Assets at Deutsche Börse Group, commented on the launch, emphasising that it underscores the group’s commitment to leading in the digital asset sector. He described the launch as a significant step forward for 360T as it seeks to establish itself as a trusted partner within the rapidly evolving crypto marketplace, responding to the growing client interest.