Deutsche Börse Group, which runs the stock exchanges and trading platforms in Europe, has formed a partnership with Google Cloud to develop its digital securities platform.
The Deutsche Börse Digital Asset Business Platform will use Google Cloud to power an “institutional-grade” ecosystem to trade digital assets including crypto spot and derivatives products. Deutsche Börse plans to expand the use of the platform into other asset classes in the coming months.
Google Cloud will be Deutsche Börse’s preferred cloud partner for the next decade and the companies will jointly install a data mesh for Deutsche Börse’s data distribution and data use cases in the cloud.
The companies said they will also work on cyber security and meeting the requirements set by regulators.
Commenting on the news Theodor Weimer, chief executive at Deutsche Börse, said: “To trailblaze changing market environments and not only meet but anticipate customer demand, it is key to couple our financial services expertise with the technological prowess of a true market heavyweight.”
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