DBS Digital Exchange (DDEx), one of Asia’s first bank-backed digital exchanges, has reported a year-on-year increase of 80% in Bitcoin traded in financial year 2022, while the number of Bitcoin custodized with the bank doubled from 2021.
The volume of Ethereum held in the bank’s digital custody has also expanded 60%, while the number of Ether traded on the exchange was almost 65% higher, it said in a statement on Wednesday.
DDEx is the bank’s members-only exchange, offering accredited investors, financial institutions, and family offices that bank with DBS, access to cryptocurrency and digital payment tokens.
(By PRADIPTA MUKHERJEE)
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