DBS reports strong momentum across its digital developments

The bank recorded over $815 million in trades across its DBS Digital Exchange (DDEx) for FY 2021.

Singapore-headquartered DBS Bank today reported a full year of successful operations by its digital asset initiatives, including its members-only DBS Digital Exchange DDEx.

The DDEx platform, which was launched in December 2020 and underpins the bank’s digital asset ecosystem, leverages blockchain to offer trading and custodian services for digital assets, including security tokens and cryptocurrencies. The platform provides an avenue for investors to invest in traditionally illiquid asset classes.

In an update shared with media, the bank revealed that the platform had recorded over S$ 1.1 billion $815 million in trading value for the 2021 financial year. Its digital assets under custody also sat...

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