Singapore bank DBS launched its own crypto platform in 2020. It was created exclusively for institutional investors, but the financial giant promised to make it available to other categories of traders in the future.
Despite the dominance of bearish sentiment in the cryptosphere in 2022, the volume of bitcoin trading on the bank-owned DDEx exchange increased by 80%, according to Bloomberg. The amount of transactions with ether increased by approximately 65%.
The biggest surge in activity of traders was observed in August after the collapse of the market in May and June.
In parallel, DDEx recorded an increase in the number of users. Last year alone, more than 1,200 new investors registered on the platform.
According to DBS Digital Exchange CEO Lionel Lima, investors’ attention is increasingly shifting to regulated exchanges. Such sites are able to provide protection for investors.
The top manager also noted:
As a regulated digital exchange backed by the DBS Group, we offer many unique tools that investors value as they seek trusted gateways to access digital assets.
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