360T unveils digital asset exchange
Leading FX trading venue 360T launches its Digital Exchange – 3DX – as a Crypto Spot trading service, complementing the platform's current Crypto NDF offering.
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3DX is an institutional-only, MiCAR (Markets in Crypto Assets Regulation) regulated trading platform for crypto-assets, authorized by BaFin and operating across the EU.
Formerly known as DBDX, an initiative of Deutsche Börse Group's holistic Digital Strategy, 3DX has now been successfully merged with the Group's FX entity to achieve synergies on organizational, regulatory and go-to-market dimensions.
The digital business is led by Carlo Kölzer, founder and CEO of 360T and Head of FX and Digital Assets of Deutsche Börse Group. 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.
As a neutral trading platform, 3DX allows clients to access liquidity from multiple liquidity providers with efficiency and minimal complexity. Leveraging 360T's proven technical infrastructure, 3DX delivers institutional-grade Crypto Spot trading services designed to meet the high standards of reliability and performance required by its clientele.
The Crypto Spot offering is aligned with the regulatory standards of MiCAR being fully compliant for European markets. Therefore, this offering combines regulatory clarity on Crypto Assets within EU with a trading platform adhering to robust governance and operational safeguards, setting the stage for institutional Crypto Spot trading.
Crypto Spot trading on 3DX is powered by 360T's SuperSonic product suite, featuring streaming prices tailored to the individual client, while exclusively engaging with selected counterparties. Clients can access the platform via GUI or API, allowing them to trade seamlessly with familiar tools and workflows. Crypto NDFs will continue to be available as RFS through 360T Bridge and as part of clients' automated workflows through 360T EMS.
Initially, 3DX supports bilateral settlement, while remaining adaptable to various post-trade models to meet diverse client needs for enhanced risk management in the future. Moreover, 3DX will continuously align its trading offerings with client demand, ensuring a responsive and adaptive trading environment.
'Not only does the launch of 3DX demonstrate Deutsche Börse Group's broader commitment to be a leader in the digital assets space,' said Carlo Kölzer, '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.'
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