DBS’ DDEx doubles trade volume in June from April

The number of BTC and ETH bought also rose by over 50%.

DBS’ digital asset ecosystem has benefit from investors’ flight to safety, with its DDEx doubling the number of trades within months.

DDEx, the bank’s official digital asset market, saw the total number of trades executed double in June 2022 compared to that of April. Buys reportedly accounted for over 90% of trades during the month, according to Singapore’s biggest bank by assets.

In terms of users, DDEx saw its customer base grow 10% as of 30 June as compared to 30 April. Reverse inquiries from corporate and institutional investors also remained strong, the bank said.

The quantity of BTC bought on DDEx in June was also nearly four times that recorded in April 2022.

Similarly, the quantity of ETH bought on DDEx was 65% higher during the same period of comparison.

DBS said that it holds all digital assets separately within the bank itself to better protect customers’ assets.

The bank shared that it conducts coin purity checks on all digital assets entering its custody, and the fully complies with all prevailing AML/KYC standards.

DDEx plans to roll out self-directed trading for accredited investors in the coming months.

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