360T Expands Crypto Offering with New Venue

Deutsche Börse has rebranded its DBDX crypto trading initiative to 3DX and launched it under the 360T umbrella, the regulated venue offers institutional-only trading venue for spot crypto, complementing its existing crypto NDF offering.

3DX is regulated under the European Union’s Markets in Crypto Assets Regulation (MiCAR), and authorised by German regulator BaFin. This means, the exchange group says, it combines regulatory clarity on crypto assets within EU with a trading platform adhering to robust governance and operational safeguards.

Deutsche Börse says it has been merged with 360T, its FX platform to achieve synergies on organisational, regulatory and go-to-market grounds. The combined business will be led by Carlo Kölzer, founder and CEO of 360T and already head of FX at Deutsche Börse Group, who will add digital assets to his remit. The exchange group says the vision is to offer a one-stop-shop solution for trading, settlement, and institutional custody – all under the wider umbrella of Deutsche Börse Group.

3DX has a similar model to 360T’s core FX offering, in that it allows clients to access liquidity from multiple liquidity providers with minimal complexity. It leverages 360T’s technical infrastructure, specifically the firm’s SuperSonic product suite, and will, Deutsche Börse says, deliver institutional-grade crypto spot trading services designed to meet the high standards of reliability and performance required by its clientele.

Clients can access the platform via GUI or API, allowing them to trade with familiar tools and workflows, the firm adds, noting that crypto NDFs will continue to be available as RFS through 360T Bridge and as part of clients’ automated workflows through 360T EMS.

Initially, 3DX will support bilateral settlement, “while remaining adaptable to various post-trade models to meet diverse client needs for enhanced risk management in the future”, it will also “continuously align its trading offerings with client demand, ensuring a responsive and adaptive trading environment”.

Kölzer concludes, “Not only does the launch of 3DX demonstrate Deutsche Börse Group’s broader commitment to be a leader in the digital assets space, it represents a significant milestone in 360T’s history as a global marketplace that aims to grow as a trusted partner in the evolving crypto landscape and in line with the increasing interests from our clients.”