Deutsche Börse wants to compete with top dogs such as Binance or Coinbase with its own trading platform for cryptocurrencies.

On Tuesday, the German exchange operator presented the Deutsche Börse Digital Exchange (DBDX), which is fully regulated. In addition to trading, the offering also includes the settlement of these transactions as well as the custody of Bitcoin, Ethereum & Co. "We want to offer institutional clients 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.

Up to now, trading in cyber currencies has 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 precautions. Due to the lack of a legal framework, investors also have to fear for their deposits if exchanges such as FTX collapse. In Germany, the Bitcoin Group operates the trading platform Bitcoin.de. Its shares slipped by five percent on Tuesday.

(Report by Hakan Ersen; edited by Sabine Wollrab. If you have any questions, please contact our editorial team at berlin.newsroom@thomsonreuters.com (for politics and the economy) or frankfurt.newsroom@thomsonreuters.com (for companies and markets).)