Deutsche Boerse, the operator of Germany’s largest stock exchange, has started a crypto spot trading platform for institutional clients, the company said in a statement on Tuesday.

DBDX offers a fully regulated ecosystem for trading, settlement and custody of crypto assets, the firm said.

Initially, trading on DBDX will operate on a request-for-quote (RFQ) basis, followed by multilateral trading. Deutsche Boerse will operate the trading venue, and Crypto Finance will provide settlement and custody services.

“We aim to provide trusted market operations for crypto assets, ensuring transparency, security, and regulatory compliance for institutional clients in Europe,” said Carl Koelzer, head of FX and digital assets at Deutsche Boerse.

Last month, the German regulator granted Crypto Finance four licenses, which included digital asset, trading, settlement and custody services in Germany.

Deutsche Boerse-backed Crypto Finance said last year it was joining forces with financial services provider Apex Group to offer institutional-grade crypto investment products.

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