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Staff Reporter

, Singapore

Published:

2 years ago

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Photo by Uwe Aranas via Wikimedia Commons. Apart from cropping, no other edits were made to the photo. Creative Commons License: https://creativecommons.org/licenses/by-sa/4.0/deed.en

DDEx’s digital token trade value triples in 5M 2024

Active trading clients have also grown by 36% during the period.

The value of digital tokens traded via the DBS Digital Exchange (DDEx) has tripled during the first five months of 2024 compared to the same period last year, according to DBS.

Active trading clients in DDEx have also grown by 36% over the same period of comparison.

Digital assets custodised with DBS surged 80% in Singapore dollar terms, according to the bank.

DBS said that the stronger performance was a result of a net inflow of deposits from new and existing clients seeking safe-haven bank-grade platforms to custodise and trade digital assets.

“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,” noted Lim Wee Kian, CEO of DDEx.

“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,” Lim added.

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