News

Markets

Staff Reporter

, Singapore

Published:

1 year ago

Photo courtesy of Unsplash.

DBS Digital Exchange's Bitcoin trading up 80% in 2022

The members-only exchange also doubled its customers during the year.

DBS Digital Exchange (DDEx) saw the number of bitcoin (BTC) traded in the platform rise 80% in 2022 compared to a year ago.

The number of ether (ETH) traded on DDEx was also higher by nearly 65% compared to 2021.

ALSO READ: High interest rates carry DBS to record net profit of $6.14b in 2022

Customers continued to park more digital assets with the bank’s institutional-grade digital custody solution, according to DBS. The number of BTC custodised with DBS as of 31 December 2022 more than doubled from 2021, whilst the number of ETH custodised grew over 60% over the same period.

The members-only exchange doubled its customer base in 2022. Close to 1,200 participants are now registered on the exchange by end-2022, DBS said in a press release.

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