Deutsche Börse has selected Google Cloud to provide the backbone for a new digital asset business platform that will aim to establish an institutional-grade ecosystem for crypto trading.
Under the deal, Google Cloud will become Deutsche Börse Group’s preferred partner for cloud consumption for the next ten years with a focus on accelerating development of the exchange's DLT-based digital securities platform D7.
The D7 platform will be underpinned by Google Cloud’s secure infrastructure and will have an intelligent data analytics layer via Google Cloud’s BigQuery and Analytics Hub.
The partnership also seeks to innovate Deutsche Börse Group’s digital asset business with an institutional-grade offering, including a Digital Assets Business Platform with a cloud-native market infrastructure, combining centralized and decentralized financial infrastructure to deliver crypto spot and derivatives products. The German exchange says it aims to expand these capabilities to further asset classes over time.
Additionally, the two companies plan to jointly deploy a data mesh for several of Deutsche Börse Group’s data distribution and data use cases in the cloud.
Thomas Kurian, CEO of Google Cloud, comments: “Our partnership with Deutsche Börse Group underscores the wide range of opportunities and benefits that secure and reliable cloud technology, data analytics, and AI can have for all market participants.”
Finextra has recently launched the inaugural Financial Cloud Summit, scheduled to take place on 2 March 2023. For more information and to register for this event, please visit the event page here.