During the year, the number of Bitcoin that was custodised with DBS as at Dec 31, 2022, more than doubled, while the number of Ether custodised grew over 60% in the FY2022.
The DDEx is a members-only exchange that serves corporate and institutional investors, accredited investors and family offices who are generally better able to manage market risks.
The exchange doubled its customer base in 2022 with close to 1,200 participants registered on the exchange as at Dec 31, 2022.
“Since inception in 2020, we have taken a prudent and measured approach towards developing our digital asset ecosystem, choosing to keep pace with the market as it matures and as investors become more sophisticated. We believe that the market has decisively shifted its focus towards trust and stability especially in the wake of multiple scandals that have rocked the industry,” says Lionel Lim, CEO of DDEx.
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“As a regulated digital exchange backed by the DBS Group, we offer many unique advantages that investors have come to appreciate as they seek reliable gateways to access the digital asset economy,” he adds.
On the Security Token Offering (STO) space, Lim said that he saw “growing interest” from the exchange’s corporate clients in 2022. He adds that the exchange was “actively working towards converting a number of enquiries into STOs”.
“However, these were put on hold given the market volatility as well as macroeconomic uncertainty. We will continue to work with these potential issuers as well as explore origination opportunities for high quality STO listings in 2023.”
