DBS Digital Exchange sees growing business momentum

DBS announced that its digital asset ecosystem, anchored by the DBS Digital Exchange (DDEx), has enjoyed strong business momentum since it went operational 24/7 in August 2021. In the two full months since DDEx recorded trading volumes surpassing the total trading volume of the first eight months of the year by 40%. DBS also recorded over SGD 600 million in digital assets under custody as of the end of October, triple the amount recorded in the previous month. DDEx has seen a growing number of corporate and institutional customers among its participants, including established banking and financial institutions, a Central Bank, and other digital asset exchanges. By participating in DDEx, digital asset exchanges gain round-the-clock access to a whole host of market makers trading on DDEx‘s trusted platform and benefit from adjacent strengths in DBS’ broader digital asset ecosystem. DDEx has onboarded over 500 participants to date. Eng-Kwok Seat Moey, Group Head of Capital Markets and Chair of the DBS Digital Exchange noted that the strong momentum bodes well for Singapores ambition to become a key player in the global cryptocurrency economy. DBS has established a holistic ecosystem to serve the entire digital asset value chain, from deal origination to tokenization, listing, trading, and custody, all within a trusted and regulated bank environment.