DBS Digital Exchange (DDEx) has experienced significant growth in the first five months of 2024, with the trading volume of digital payment tokens nearly tripling compared to the same period in 2023.
The number of active trading clients increased by 36%, and digital assets held by DBS surged by over 80%.
This growth is attributed to a net inflow of deposits from clients seeking secure, bank-grade platforms for digital asset custody and trading.
The surge in activity coincides with an approximate 50% increase in the overall market capitalisation of cryptocurrencies during the same period.
DBS uses institutional-grade cold wallets for storing clients’ digital assets, ensuring security by keeping them separate from the exchange.
Launched in December 2020, DDEx provides institutional and accredited investors with a fully integrated ecosystem for tokenisation, trading, and custody of digital assets. It is the first full-service digital asset exchange supported by a bank.
DBS was recently selected by blockchain and tokenisation infrastructure platform Paxos as its primary banking partner for cash management and custody of stablecoin reserves.

Lim Wee Kian, CEO of DDEx, said,
“Our strong growth underscores our clients’ recognition that DBS offers these value propositions. We remain committed to expanding the suite of products for professional investors entering this asset class.
To that end, we are studying listing stablecoins on our exchange and studying how to enable clients to earn rewards through Ethereum staking. We also continue to evaluate suitable security token offering opportunities.”
Featured image credit: Edited from Freepik