DBS announced on Wednesday a significant increase in the trading value of digital payment tokens on its digital exchange for the first five months of 2024. DBS, a leading financial services group in Asia, operates in 19 markets. Headquartered and listed in Singapore, the bank is strategically positioned in Greater China, Southeast Asia, and South Asia, boasting “AA-” and “Aa1” credit ratings, among the highest globally.

“The value of digital payment tokens traded on DBS Digital Exchange (Ddex) in the first five months of this year has nearly tripled in Singapore dollar terms, compared to the same period in 2023,” DBS detailed, adding:

The number of active trading clients on Ddex grew 36%, while digital assets custodised with DBS surged over 80% in Singapore dollar terms.

This remarkable growth was attributed to a substantial influx of deposits from clients seeking secure, bank-grade platforms for trading and custodied digital assets, DBS explained. This surge coincided with a roughly 50% increase in the overall market capitalization of cryptocurrencies during the same timeframe.

Lim Wee Kian, CEO of Ddex, shared:

Professional investors are increasingly viewing digital assets as a legitimate part of their alternative portfolios.

“They require platforms that provide them complete safety of their assets, seamless access to an entire ecosystem of digital asset services, and the ability to manage digital asset and traditional portfolios side-by-side,” the executive added.

Since its launch in December 2020 as the first full-service digital asset exchange backed by a bank, Ddex has been pivotal in meeting the needs of institutional and accredited investors, DBS described, adding that the platform offers integrated tokenization, trading, and custody solutions. Additionally, DBS has partnered with Paxos for cash management and stablecoin custody. Lim further stated:

We remain committed to expanding the suite of products for professional investors entering this asset class. To that end, we are studying listing stablecoins on our exchange and studying how to enable clients to earn rewards through Ethereum staking. We also continue to evaluate suitable security token offering opportunities.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。