DBS, which has its headquarters in Singapore, has unveiled DBS Digital Exchange (DDEx), a self-directed cryptocurrency trading function that will be accessible to accredited investors on its digibank app.
Users may now trade Bitcoin, Ethereum, XRP, and Bitcoin Cash on DDEx for a minimum investment of $500 USD.
Due to the connection between this function and DBS Digibank, customer money may be immediately deducted for DDEx transactions. This also gets rid of other complications like converting digital tokens, third-party processing, and wire transfer charges. Bonds, stocks, and foreign exchange may all be traded by users easily since all transactions take place on a single platform.
Prior to this change, only family offices, institutional investors, and customers of DBS Private Bank and DBS Treasures Private Client had access to DDEx. The number of certified investors has increased by 100,000, expanding the user base.
The overall number of deals on DDEx’s exchange doubled between April and June of this year, according to the bank, demonstrating the exchange’s resiliency in the face of the volatile cryptocurrency market.
