Trading volumes at DBS Digital Exchange tripled in the first five months of 2024 in the backdrop of a rallying crypto market.
In Singapore dollar terms, DBS Digital Exchange (DDEx) saw trading volumes triple in the first five months of 2024 compared to the same period last year, according to a statement. The number of active trading clients increased 36 percent while digital assets custodized grew 80 percent. This performance was driven by net inflows of deposits from both new and existing clients.
«Professional investors are increasingly viewing digital assets as a legitimate part of their alternative portfolios,» said DDEx CEO Lim Wee Kian. «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.»
Expanding the Offering
According to Lim, DDEx is exploring opportunities to further expand its offering. This includes listing stablecoins, Ethereum staking and security tokens.
DDEx was launched in December 2020 to provide tokenization, trading and custody services for digital assets aimed at institutional and accredited investors.
