Speculative transactions with cryptocurrencies have so far taken place on barely regulated online platforms. Now Deutsche Börse has presented its own trading platform for Bitcoin & Co.
With its own trading platform for cryptocurrencies, Deutsche Börse wants to compete with top dogs like Binance or Coinbase. The German stock exchange operator has introduced the Deutsche Börse Digital Exchange (DBDX), which is fully regulated.
In addition to trading, the offer also includes the processing of these transactions as well as the custody of Bitcoin, Ethereum and other cryptocurrencies.
“We want to offer institutional customers in Europe trustworthy markets for crypto assets that are characterized by transparency and security,” said Carlo Kölzer, head of foreign exchange and cryptocurrencies at Deutsche Börse.
Loss of trust after FTX bankruptcy
Cyber currency trading has so far mostly taken place via barely regulated online platforms. These are often suspected of being used for money laundering and other illegal activities due to a lack of security measures.
Due to a lack of legal framework, investors also have to fear for their deposits if exchanges like FTX collapse. In Germany, the Bitcoin Group operates the trading platform Bitcoin.de. Its shares slipped five percent on Tuesday.