D2X Group
D2X Group operates an institutional-grade, EU-regulated digital asset derivatives exchange (MTF) offering crypto futures and options with 7-day-a-week trading and USD settlement, serving Tier-1 banks, broker-dealers, asset managers, hedge funds, and proprietary trading firms.
- Company typePrivate
- Founded2020
- HeadquartersAmsterdam, Netherlands
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What D2X Group does
D2X Group N.V. is a privately held Dutch financial market infrastructure company founded in 2020 and headquartered in Amsterdam, Netherlands. It operates an institutional-grade digital asset derivatives exchange under the D2X Market brand, holding the EU's first MiFID Multilateral Trading Facility (MTF) license for crypto derivatives, granted by the Dutch Authority for the Financial Markets (AFM) and supervised by the AFM and DNB. The platform offers crypto futures and options with 7-days-a-week trading availability, USD-denominated settlement on Bitcoin and Ethereum futures, and off-exchange collateral solutions designed to reduce counterparty risk while maintaining regulatory compliance.
The platform is purpose-built for Tier-1 institutional clients, including banks, broker-dealers, asset managers, hedge funds, and proprietary trading firms seeking regulated exposure to digital asset derivatives. It addresses the structural tension institutions face between unregulated 24/7 venues (which carry counterparty risk) and regulated exchanges (which typically restrict weekend trading and impose higher collateral requirements). The core products are USD-denominated Bitcoin and Ethereum futures, alongside a regulated crypto options trading capability, all built on MTF infrastructure compliant with EU financial regulations.
D2X generates revenue through transaction fees on derivatives trading and recurring institutional services revenue. Pricing is not publicly disclosed and is handled through direct enterprise sales engagements. The company has raised approximately $15-16 million to date across multiple funding rounds, including a $10 million Series A led by Point72 Ventures in March 2024 and a €4.3 million strategic round in 2026 featuring Circle Ventures, CMT Digital, and Canton Ventures alongside renewed backing from existing investors. The team is led by co-founders Théodore Rozencwajg (CCO) and Don Krogt (CTO), with reported headcount between 11-50 employees.
D2X Group firmographics
Firmographics- Name
- D2X Group
- Legal name
- D2X Group N.V.
- Website
- https://d2x.com
- Company type
- Private
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- D2X Group operates an institutional-grade, EU-regulated digital asset derivatives exchange (MTF) offering crypto futures and options with 7-day-a-week trading and USD settlement, serving Tier-1 banks, broker-dealers, asset managers, hedge funds, and proprietary trading firms.
- Ownership category
- akta.pro rank
D2X Group industry classification
Industry- Product category
- Crypto Derivatives Exchange
- NAICS
- Securities and Commodity Exchanges (52321), Commodity Contracts Intermediation (523160), Securities and Commodity Contracts Intermediation and Brokerage (5231)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Commodity Contracts Brokers & Dealers (6221)
- akta.pro primary industry
- Crypto Derivatives Exchanges (Futures, Options & Perpetuals) (FSADAAAD)
Keywords
Where D2X Group is headquartered
LocationHeadquarters
- HQ city
- Amsterdam
- HQ country
- Netherlands
- HQ region
- Europe
Offices1 record
Markets served
D2X Group business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Others
Revenue model
- Crypto Derivatives Trading Fees: D2X generates revenue through transaction fees on futures and options trading for Bitcoin, Ethereum, and other digital assets on its regulated MTF platform.
- Institutional Trading Services: Revenue derived from providing institutional-grade trading infrastructure including access to regulated crypto derivatives markets.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels4 records
D2X Group product offering
Product offeringCore offering
D2X Group operates a regulated European crypto derivatives exchange (MTF) offering institutional clients access to crypto futures and options trading on Bitcoin, Ethereum and other digital assets. The platform enables 7-days-a-week trading under AFM and DNB supervision, with USD-denominated settlement and off-exchange collateral solutions designed to reduce counterparty risk while maintaining full regulatory compliance.
Product overview
D2X Group operates a unified institutional-grade digital asset derivatives exchange offering crypto futures and options trading 7-days-a-week. The core platform, D2X Market, provides USD-denominated futures on Bitcoin and Ethereum following the company's 2024 acquisition of the EU's first MTF license for crypto derivatives. The platform is designed for Tier-1 institutional clients and operates under AFM and DNB supervision as a licensed investment firm.
Differentiator
Problem solved
Functional benefit
Companies that use D2X Group
Customer profileNamed customers1 record
Segments2 records
Ideal customer profiles2 records
D2X Group technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
D2X Group partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- CirclecoreCircle is featured as a partner on D2X's website. Circle is the issuer of USDC stablecoin and provides payment infrastructure that may integrate with D2X's trading platform for institutional clients.
Scale indicators3 records
Recent moves6 records
Expansion highlights5 records
D2X Group competitors and assessment
Company assessmentBroad incumbents
- Bitfinex: Bitfinex offers crypto derivatives (perpetuals, futures) for sophisticated retail and institutional clients. Comparable as a derivatives-focused crypto venue, though it has faced regulatory headwinds and lacks D2X's EU MTF-licensed positioning.
- Coinbase: Coinbase operates regulated crypto trading venues in the US and EU and acquired Deribit. Directly comparable as a regulated institutional crypto venue, though broader in scope (spot, custody, derivatives) and materially larger in scale and capital base.
- OKX: OKX is a top-tier global crypto exchange with deep derivatives liquidity across futures, options, and perpetuals. Comparable on crypto derivatives product suite, but not EU MTF-licensed and significantly larger in scale — represents the offshore institutional flow D2X aims to redirect to a regulated venue.
- Bybit: Bybit is a major crypto derivatives exchange offering futures, options, and perpetuals to a global institutional and retail audience. Comparable on derivatives product set, but unregulated in the EU — competes for the same institutional crypto derivatives demand that D2X targets under a regulatory wrapper.
- Kraken: Kraken operates regulated crypto trading globally, including Kraken Futures. Comparable as a regulated institutional crypto venue with a derivatives offering, though the primary brand identity is spot trading rather than derivatives-focused.
- Binance: Binance operates the largest crypto derivatives venue globally by volume, offering futures and options across hundreds of pairs. Comparable product surface, but limited EU regulatory standing — represents both the offshore competition and the counterparty-risk benchmark D2X pitches against.
- CME Group: CME Group operates regulated Bitcoin and Ethereum futures and options — the established institutional venue for regulated crypto derivatives. Directly comparable as a regulated, institutional-focused derivatives venue, though broader in scope (equity, rates, commodities) and operating a more limited trading schedule than D2X's 7-day model.
- Crypto.com: Crypto.com operates a regulated derivatives exchange (Crypto.com | Derivatives North America, with MiFID-licensed entities in the EU). Comparable as a multi-jurisdiction regulated crypto derivatives venue with institutional ambitions and broader consumer-facing crypto services.
Direct peers
- Deribit: Deribit is the leading crypto options and derivatives exchange by volume, offering BTC and ETH futures and options. Directly comparable product offering (institutional crypto derivatives), though Deribit is not EU-MTF-licensed and is now owned by Coinbase, making D2X the regulated-EU counterpoint for institutional flow.
- BTSE: BTSE operates a regulated crypto derivatives exchange serving institutional clients with futures and options. Directly comparable as a regulated, institutional-focused derivatives venue competing for similar Tier-1 client flow with multi-jurisdiction licensing.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
D2X Group social profiles
Digital presenceD2X Group compliance and trust
Trust signalCompliance5 records
D2X Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
D2X Group leadership team
Management profileNumber of profiles
Profiles2 records
D2X Group funding detail
Funding detailFunding overview
Funding rounds4 records
Investors13 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
D2X Group M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about D2X Group
What does D2X Group do?
D2X Group operates a regulated European crypto derivatives exchange (MTF) offering institutional clients access to crypto futures and options trading on Bitcoin, Ethereum and other digital assets. The platform enables 7-days-a-week trading under AFM and DNB supervision, with USD-denominated settlement and off-exchange collateral solutions designed to reduce counterparty risk while maintaining full regulatory compliance.
Is D2X Group a public or private company?
D2X Group is a private company. It is classified as venture growth investor backed and is currently operating.
When was D2X Group founded?
D2X Group was founded in 2020. It employs 11 to 50 people.
Where is D2X Group based?
D2X Group is headquartered in Amsterdam, Netherlands, in the Europe region.
How does D2X Group make money?
Two revenue lines are on record. Crypto Derivatives Trading Fees are the primary driver. The others are institutional Trading Services.
Who are D2X Group's main competitors?
Broad incumbents on record are Bitfinex, Coinbase, OKX, Bybit, Kraken, Binance, CME Group and Crypto.com. Direct peers are Deribit and BTSE.
Does D2X Group have an API?
No public API is recorded for D2X Group.
What industry is D2X Group in?
D2X Group's product category is Crypto Derivatives Exchange. Its primary akta.pro industry code is FSADAAAD, Crypto Derivatives Exchanges (Futures, Options & Perpetuals). Its NAICS code is 52321 and its SIC code is 6200.