DBS bank reports 4X growth in Bitcoin buys on DDEx exchange in June
Crypto investors bought four times more Bitcoin on DBS Bank’s DDEx in June than in April 2022 as BTC price dipped below $20,000. A major cryptocurrency selloff in June 2022 has sparked more interest in Bitcoin (BTC) from institutional investors, according to data from one of the biggest banks in Singapore.The total number of trades on DDEx more than doubled in June 2022 as compared to April 2022 amid the growing investor appetite for digital assets like Bitcoin and Ether (ETH). Buy orders on DDEx accounted for 90% of all trades in June as cryptocurrencies traded at notable discounts in....
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Starting next Monday, DBS Bank’s crypto exchange will start operating, allowing institutional investors to trade Bitcoin. Singapore’s largest bank, DBS Bank, has expanded its scope of supported cryptocurrency services by scoring another regulatory approval.DBS Bank’s brokerage arm, DBS Vickers (DBSV), has received in-principle approval from the Monetary Authority of Singapore (MAS) to provide digital payment token services as a payment institution, the company officially announced Thursday.The approval is granted under Singapore’s Payment Services Act, paving the way for DBSV’s payment....
Institutional or accredited investors signed up to the DBS Digital Exchange will be able to access secondary markets for DBS’s digital bond. Singapore-based multinational banking corporation, DBS Bank, has launched its first-ever security token offering, or STO, by issuing a digital bond.The DBS digital bond has been priced at $11.35 million and comes with a six-month tenor and coupon rate of 0.60% annually. The offering was carried out through a private placement hosted by DBS Digital Exchange, or DDEx, marking DDEx’s first STO.To encourage investor engagement, the bond is set to be....
Singapore's largest bank expanded crypto trading for accredited investors only, aligned with financial authorities' views. Singapore's largest bank, DBS, has announced another move to expand its crypto services while remaining cautious in complying with the financial authorities' view that crypto assets are not suitable for retail investors in the country.On Friday, the bank disclosed its decision to expand crypto trading services on its digital exchange (DDEx) to approximately 100,000 "wealth clients who are accredited investors." Investors who are considered accredited must meet certain....
Ripple has inked a three-way agreement with DBS and Franklin Templeton to bring tokenized money market funds and stablecoin-based liquidity onto DBS Digital Exchange (DDEx), in a move that squarely targets institutional demand for on-chain yield and credit. Biggest Bank In Southeast Asia Taps Ripple Tech Under a memorandum of understanding signed on September 18, […]
In hopes to grow its financial products on the DBS Digital Exchange (DDex), Singapore’s DBS Bank just announced its issuance of a $11.3 million digital bond in its security token offering (STO). A security token offering is similar to that of an IPO, in that it’s a type of public offering where tokenized digital securities […]