DBS, Singapore’s largest bank, has seen trading volumes on its digital exchange this year.

The value of digital payment tokens traded on the DBS Digital Exchange tripled in Singapore dollar terms in the first five months of 2024 compared to the same period in 2023, according to a press release. Decrypt. The number of active trading clients on the exchange increased by more than a third (36%), while digital assets held by the platform were 80% higher than in the same period last year.

Lim Wee Kian, CEO of DBS Digital Exchange, said professional investors are “seeing digital assets as a legitimate part of their alternative portfolios” with the platform expanding its products for professional investors. plans to expand the suite of

He added that the firm is “studying the list of stablecoins on our exchange and studying how to enable clients to earn rewards through Ethereum staking.”

Earlier this year, the bank moved to deny reports that it was one. Ethereum Whale, a blockchain analytics firm, denies Nansen’s claims that it ran a wallet with more than $650 million in ETH.

However, DBS is an early adopter of crypto, launching its own digital exchange in 2020, when many banks were blocking crypto transactions, and in 2023 China’s e-CNY central bank digital currency (CBDC ) were adding support for

The bank’s digital exchange serves institutional and accredited investors and claims to be the world’s first full-service digital exchange backed by a bank.

DBS expands its services to offer crypto custody service in 2021.

Source link