- DBS noticed an 80% rise in BTC trades and twice the deposits from the earlier yr.
- The financial institution’s ETH custody rose by 60%, whereas the traded quantity enhance by 65%.
- DDEx is a members-only change for company and institutional buyers.
Regardless of the widespread turbulence that rocked the crypto trade in 2022, DBS Digital Alternate (DDEx), a number one monetary providers group in Asia, reported an 80% enhance in Bitcoin (BTC) trades and twice the BTC deposits from the earlier yr.
Based on an official assertion from the corporate as we speak, the quantity of Ethereum (ETH) tokens within the financial institution’s digital custody rose by 60%, whereas the traded quantity was 65% greater from 2021.
DDEx believes the optimistic enterprise metrics underscore the belief buyers proceed to put in its digital asset ecosystem within the face of unprecedented volatility in crypto markets. Lionel Lim, CEO of the DBS Digital Alternate, mentioned:
As a regulated digital change, we provide many distinctive benefits buyers have come to understand as they search dependable gateways to entry the digital asset economic system.
Moreover, DBS claims to undertake the trade finest apply of holding all prospects’ digital belongings individually throughout the financial institution utilizing institutional-grade chilly wallets. It additionally claims to conduct coin purity checks on all cryptocurrencies getting into its custody in compliance with Anti-Cash Laundering (AML) / Know Your Buyer (KYC) requirements.
DDEx is a members-only change serving company and institutional buyers, accredited buyers, and household workplaces. Based on the corporate, these classes of execs “are usually higher in a position to handle market dangers.”
Final October, DDEx listed Polkadot (DOT) and Cardano (ADA), bringing the entire variety of cryptocurrencies obtainable for spot buying and selling to 6 along with BTC, ETH, Bitcoin Money (BCH), and XRP. Notably, the DBS Group reported web revenue development of 20% in 2022 to $6.14 billion.