According to Odaily, DBS Bank recently announced a substantial rise in the value of digital payment token transactions on its digital exchange in the first five months of 2024. The bank detailed that the value of digital payment tokens traded on the DBS Digital Exchange (Ddex) nearly doubled in Singapore dollar terms compared to the same period in 2023. Additionally, the number of active trading customers increased by 36%, and the digital assets under DBS Bank's custody surged by over 80% in Singapore dollar terms.
DBS Bank attributed this significant growth to a large influx of deposits from customers seeking a secure, bank-grade platform for trading and custody of digital assets. This trend coincided with an approximate 50% increase in the total market capitalization of cryptocurrencies during the same period.