• DBS Digital Exchange (DDEx), the crypto trading subsidiary of Singapore banking giant DBS Group Holdings, witnessed an 80% increase in Bitcoin trade volumes and 65% increase in Ethereum trading volumes despite the crypto winter.
• The firm also reported that the number of BTC in DDEx’s custody doubled as of December 31, 2022 and their customer base doubled as well with 1,200 new clients registered on the platform.
• As a regulated digital exchange backed by the DBS Group, it offers unique advantages for investors looking for trust and stability.
DBS Records Significant Growth in Crypto Trading
DBS Digital Exchange (DDEx), the crypto trading subsidiary of Singapore banking giant DBS Group Holdings, recorded an impressive growth in bitcoin and Ethereum (ETH) trading despite the bear market that wiped out billions of dollars from the market.
80% Increase In Bitcoin Trade Volume
According to a report from Bloomberg, DDEx saw an 80% increase in Bitcoin trade volume compared to the previous year. Despite negative sentiments in cryptocurrency markets, DDEx also reported that its number of BTC in custody had doubled as of December 31, 2022.
65% Increase In Ethereum Transactions
The company also saw significant growth in its Ethereum transactions with about 65% on record. This was disclosed by DDEx alongside reports that its user base had doubled as well with 1,200 new clients joining between 2021-2022.
Unique Advantages Offered By Regulated Exchange
As a regulated digital exchange backed by DBS Group Holdings, DDEx offers many unique advantages that investors have come to appreciate. These include trust and stability which is especially important following multiple scandals within the industry.
. Despite bear market conditions wiping out billions from cryptocurrency markets last year, DBS Digital Exchange experienced significant growth across both Bitcoin and Ethereum transactions as well as doubling its user base.