Deutsche Börse Group Unveils 3DX Trading Platform
In a significant step towards enhancing its digital asset portfolio, Deutsche Börse Group’s subsidiary, 360T, has unveiled 3DX, an institutional trading platform focused on cryptocurrency spot trading. This new platform is a rebranding and integration of the previously named DBDX into the 360T ecosystem, aiming to streamline operational, regulatory, and commercial processes within the foreign exchange infrastructure of the group.
Regulatory Compliance and Security
Operating under compliance with the EU’s Markets in Crypto-Assets Regulation (MiCAR) and regulated by the Federal Financial Supervisory Authority (BaFin) of Germany, 3DX provides a secure and authorized environment for users engaging in crypto spot transactions across the European Union. The launch is spearheaded by Carlo Kölzer, the CEO of 360T and a key figure overseeing FX and digital assets within Deutsche Börse Group. According to Kölzer,
“the establishment of 3DX reflects the group’s commitment to evolving as a leading player in the digital asset sector, while also marking a notable progression in 360T’s journey as a global exchange.”
Designed for Institutional Investors
3DX is designed specifically for institutional investors, granting them access to diverse liquidity sources via a highly efficient and neutral platform. This infrastructure aims to deliver low-latency execution and exceptional reliability in trading. Users will benefit from customized price streams provided through the SuperSonic product suite, with access options via graphical user interface (GUI) or application programming interface (API), ensuring smooth integration into existing workflows.
Initial Offerings and Future Plans
Initially, 3DX will support bilateral settlement capabilities, with adaptability to incorporate various post-trading models based on market feedback. Additionally, the platform will maintain its offering of crypto non-deliverable forwards (NDFs) through the 360T Bridge and its execution management services.
Industry Context and Growth Trends
In a broader context, Deutsche Bank and Standard Chartered are also exploring their futures in the U.S. cryptocurrency market, as reported by the Wall Street Journal last month. Deutsche Bank has intensified its involvement in the crypto realm, recently partnering with Börse Stuttgart to secure euro balances for users of its Bison application. The bank has been active in expanding its services in Asia in collaboration with Crypto.com and is looking to replicate its successful model for fiat-to-crypto transactions in both the UK and Europe.
Furthermore, BaFin granted four licenses to Crypto Finance last year, a company affiliated with Deutsche Börse, which has strategically launched a regulated spot platform for institutional transactions involving crypto assets. This initiative mirrors a growing trend among global financial institutions to embrace cryptocurrency trading and services, highlighting the rapid evolution of the financial landscape in the digital era.
