Wyden: Strong Growth in 2022 and Further Expansion in 2023

Wyden: Strong Growth in 2022 and Further Expansion in 2023

• Five new bank customers connected. Total number rises to twelve.
• Despite difficult market environment, sales increased by 140%
• Fourth quarter of 2022 was the strongest in terms of sales in the company's history to date
• Positive business development also emerging for 2023

Zürich (CH), 11 April 2023 – Wyden, a leading global provider of institutional trading technology for digital assets, has given a positive summary of its business performance in 2022, with five more banks connected to Wyden's platform within 2022. In total, 12 banks are now using Wyden's software platform to enable their customers to trade crypto assets. This client growth was accompanied by a significant year-on-year revenue increase of 140%. The fourth quarter of 2022 in particular stood out as the strongest in terms of revenue in the company's history to date. This good result is quite remarkable especially against the backdrop of a difficult market environment for digital assets, in which Bitcoin and other cryptocurrencies have significantly lost value, and underlines the technology leadership of the Wyden solution in the institutional sector.

Wyden also recorded growth at the operational level in the past year. Five new trading venues and service providers were connected to the firm's platform: OSL, a digital asset exchange from Hong Kong and Singapore, Scrypt from Switzerland, digital asset trading platform Woorton from France, Taurus Digital Exchange from Switzerland, and Wintermute and custody service provider Copper from the United Kingdom. This brings the current number of Wyden's integrated trading venues, custody, data and core banking system providers to over 50.

A special milestone in the company's development last year was the partnership with renowned Baader Bank, where Wyden's trading system is now fully integrated. Through this white label solution, neo and online brokers can offer their end customers professional one-stop solutions for trading crypto assets under the security umbrella of a recognized and regulated partner such as Baader Bank. The first customer for this innovative solution was the German neobroker finanzen.net zero.

Good prospects for 2023 as well

Wyden also looks set to continue its growth course in 2023. Andy Flury, CEO of Wyden: "We are pleased to be able to demonstrate strong growth across the board, even in challenging times like these. Especially after the debacle around FTX, Silvergate and Signature in the U.S., we see the potential for Europe, with its pioneering role in crypto assets, to become even more central. European banks thus have a key role to play. This development confirms us in our strategic orientation. Institutional clients are increasingly recognizing the importance of professional digital asset trading with bank-standard cash and risk management via our integrated trading platform and regulated partners."

About Wyden

Wyden is the global leader in institutional digital asset trading technology. By covering the entire trade lifecycle and supporting seamless custody, core banking and portfolio management system integration as well as full trade lifecycle automation, the Wyden platform streamlines digital assets trading. Engineered by a team of trading system veterans and crypto asset experts, Wyden offers best-in-class integrated infrastructure solutions that meet the highest institutional needs. Wyden has offices in Zurich, New York and Singapore.  

To learn more visit www.wyden.io.

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