No products in the cart.
- Latest
- Trending
ADVERTISEMENT
The ability to trade cryptocurrencies on DDEx has historically been limited to institutional investors, family offices, and DBS Private Bank clients.
But now, with the rollout of self-driven cryptocurrency trading capabilities, Singapore-based DBS will extend this capability to accredited investors in the DBS Treasure segment.
First, approximately 100,000 of these clients in Singapore will have access to services provided by DBS’ digital asset ecosystem.
Expanding access to DDEx is another step in our commitment to providing a seamless and secure way for sophisticated investors to step into cryptocurrencies. Sim S. Lim.
The launch of the crypto trading feature comes at a time when DBS acknowledges that high net worth customers are increasingly choosing a self-initiated option, and today 9 out of 10 stock trades are executed digitally. I’m here.
Starting with a minimum investment of $500, qualified wealth clients can trade Bitcoin, Bitcoin Cash, Ethereum, and XRP on DDEx. Your cryptocurrency holdings will be reflected along with the rest of your portfolio in the DBS Digibank App.
While the launch of this new feature was highly anticipated, the bank confirmed in a recent statement that it is developing an adjacent aspect of the service and plans to release a digital onboarding process in 2023. confirmed.
Interest in cryptocurrencies remains resilient, with the asset class penetrating more investor portfolios. 71% of the world’s HNWIs and 91% of individuals under the age of 40 invest in digital assets.according to capgeminiWorld Wealth Report 2022.
In a volatile environment, well-regulated digital exchanges such as DDEx are expected to experience increased volatility in the cryptocurrency market from April to June 2022, doubling the total number of DDEx trades and increasing trading volume. Bitcoin purchases nearly rose four times.
