Duetsche Boerse, the operator of Germany’s largest stock exchange, has launched a crypto spot trading platform for institutions. This is an important step for the integration of cryptocurrencies into the traditional financial market.
The platform, which operates under the name Xetra Digital Assets (XDA), provides participants with access to a wide range of crypto assets, including Bitcoin, Ethereum und Litecoin. XDA leverages Duetsche Boerse’s existing infrastructure and regulatory environment to ensure safe and efficient trading.
The XDA is the result of a partnership between Duetsche Boerse and Swiss Digital Asset AG, bridging the gap between the crypto and fiat markets. The platform allows institutional investors to buy and sell crypto assets through their existing brokerage accounts without having to deal with additional wallets or custody solutions.
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The crypto assets are in the form of securities that have the same legal status as traditional stocks or bonds. The settlement is carried out by the central securities custody company Clearstream, a subsidiary of Duetsche Boerse.
The XDA is not the first initiative of the Duetsche Boerse in the field of crypto assets. Back in 2019, it launched the Eurex Exchange, a derivatives exchange for digital assets that offers futures contracts on Bitcoin.
In addition, Duetsche Boerse participates in various projects to promote blockchain technology, such as the European Blockchain Institute or the Digital Asset Research Lab. The Duetsche Boerse sees crypto assets as a great opportunity for the future of finance and wants to play a leading role in their development.
The XDA is a milestone for the crypto market in Europe and globally. It opens up new opportunities for institutional investors who want to participate in the growing demand for digital assets.
The launch of XDA marks a significant milestone in the development of the digital asset ecosystem, as it bridges the gap between the traditional and the emerging markets. By offering a regulated and secure environment for trading digital assets, XDA hopes to attract more institutional and retail investors to the crypto space, as well as to foster innovation and growth in the DLT sector.
XDA is currently in its beta phase, with a limited number of participants. The platform plans to expand its services and features in the coming months, as well as to onboard more partners and clients. XDA is open to any interested parties who meet the eligibility criteria and comply with the regulatory requirements.
It also boosts confidence in the legitimacy and security of crypto assets, by integrating them into the regulated financial market. The XDA is an example of how traditional and innovative financial players can work together to drive change in the financial sector.