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Role of centralised exchanges in building a trusted digital asset ecosystem
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Some data aggregators estimate that around 90 per cent of all digital asset transactions today still take place on CEXs.
PHOTO ILLUSTRATION: PIXABAY
Lionel Lim for The Straits Times
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SINGAPORE – Cryptocurrencies have been on a tear of late: Bitcoin is up 60 per cent so far in 2023, easily outperforming the S&P 500 at 7 per cent and the Straits Times Index, which is down 1 per cent.
These eye-catching returns have attracted some investors back into cryptocurrencies. Typically, centralised exchanges (CEXs) are the preferred gateway into the asset class due to their perceived simplicity and safety.
