ChainCatcher news, according to Bitcoin.com, DBS Bank recently stated that the value of digital payment token transactions on its digital exchange has increased significantly in the first five months of 2024.

DBS detailed: “The value (in Singapore dollars) of digital payment tokens traded on DBS Digital Exchange (Ddex) has almost tripled in the first five months of this year compared to the same period in 2023, with activity The number of trading customers increased by 36%, while digital assets under DBS custody (in Singapore dollars) surged by more than 80%.”

DBS explained that this significant growth was attributable to an influx of deposits from customers seeking a secure bank-grade platform for trading and custody of digital assets. Meanwhile, the total cryptocurrency market capitalization has increased by approximately 50% during the same time period.