tl;dr

DBS, the largest bank in Singapore, has experienced a significant increase in trading volume on its digital exchange. The value of digital payment tokens traded on DBS Digital Exchange in the first five months of 2024 tripled compared to the same period in 2023 in Singapore dollar terms. The number ...

Trading volume on DBS Digital Exchange triples in the first five months of 2024, with plans to expand products for professional investors.

DBS denies claims of being an Ethereum whale, expands digital exchange services to include crypto custody.

DBS, the largest bank in Singapore, has experienced a significant increase in trading volume on its digital exchange. The value of digital payment tokens traded on DBS Digital Exchange in the first five months of 2024 tripled compared to the same period in 2023 in Singapore dollar terms. The number of active trading clients on the exchange grew by over a third (36%), and digital assets held by the platform increased by 80% over the same period last year.

DBS Digital Exchange CEO Lim Wee Kian stated that professional investors are increasingly considering digital assets as a legitimate part of their alternative portfolios, and the platform plans to expand its products for professional investors, including studying the listing of stablecoins and enabling clients to earn rewards through Ethereum staking.

Despite denying claims of being an Ethereum whale, DBS has been an early adopter of crypto, launching its digital exchange in 2020 and adding support for China's e-CNY central bank digital currency in 2023. The bank's digital exchange serves institutional and accredited investors and is claimed to be the world's first full-service digital exchange backed by a bank. DBS expanded its services to offer a crypto custody service in 2021.

DBS, the biggest bank in Singapore, has seen trading volume on its digital exchange skyrocket this year. The value of digital payment tokens traded on DBS Digital Exchange in the first five months of 2024 tripled over the same period in 2023, in Singapore dollar terms, according to a press release shared with Decrypt. The number of active trading clients on the exchange grew by over a third (36%), while digital assets held by the platform were up 80% over the same period last year.

With professional investors "increasingly viewing digital assets as a legitimate part of their alternative portfolios," DBS Digital Exchange CEO Lim Wee Kian said that the platform plans to expand its suite of products for professional investors. The firm is "studying listing stablecoins on our exchange and studying how to enable clients to earn rewards through Ethereum staking," he added.

Earlier this year, the bank stepped in to quash reports that it was an Ethereum whale, denying claims by blockchain analytics firm Nansen that it operated a wallet holding over $650 million in ETH. Nevertheless, DBS has been something of an early adopter of crypto, launching its digital exchange in 2020 when many banks were blocking crypto transactions and adding support for China's e-CNY central bank digital currency (CBDC) in 2023.

The bank's digital exchange serves institutional and accredited investors and claims to be the world's first full-service digital exchange backed by a bank. DBS expanded its services to offer a crypto custody service in 2021.

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Industry: MANUFACTURING

Sector: SEMICONDUCTORS & RELATED DEVICES

Employees: 87641000

Market Cap: None

Dividend Yield: None

EPS: -0.16

P/E Ratio: 1.918

ROE: -0.127

Volume: 106582000

50-Day Moving Average: 4.88

200-Day Moving Average: 3.42

RSI: 0.148

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United States Steel Corporation produces and sells tubular and flat rolled steel products primarily in North America and Europe. The company is headquartered in Pittsburgh, Pennsylvania.

Industry: MANUFACTURING, STEEL WORKS, BLAST FURNACES & ROLLING MILLS (COKE OVENS)

Stock Symbol: 8721931000

Current Price: 11.21

Price Change: 0.2

Change Percentage: 3.46%

Market Cap: 79.23 billion

Earnings per Share (EPS): 0.0489

Revenue: 17.743 billion

Price to Earnings (P/E) Ratio: 38.25

Dividend Yield: -0.129%

Dividend per Share: -0.069

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Industry: Technology, Services-Computer Programming, Data Processing, etc.

Market Cap: 1.34T

Current Price: $30.49

Change: $0.5

52-Week Range: $17.36 - $55.67

Price-Earnings Ratio (P/E): 0.321

Volume: 142.71M

Average Volume: 996M

Dividend Yield: 1.141%

Beta: 0.273

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Sector: Technology

Industry: Services - Computer Programming, Data Processing, etc.

Market Cap: $1.34 trillion

Current Price: $30.49

Price Change: $0.5

52-week Low: $17.36

52-week High: $55.67

Relative Strength Index (RSI): 55.67

Volume: 142,711,996

Market Capitalization: $520.89 billion

Price to Earnings (P/E) Ratio: 1.141

Earnings per Share (EPS): $0.273

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Industry: ENERGY & TRANSPORTATION

Business Sector: GOLD AND SILVER ORES

Market Cap: 6660930000

Current Price: 32.19

Change: 0.1

Change %: 0.52

YTD High: 2.649

YTD Low: 0.194

Volume: 1049400000

EPS: 18.99

PE Ratio: -0.116

Dividend: 0.104

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Meta Platforms Inc. Summary

Meta Platforms Inc.

Meta Platforms, Inc. develops products that enable people to connect and share with friends and family through mobile devices, PCs, virtual reality headsets, wearables and home devices around the world. The company is headquartered in Menlo Park, California.

Industry

Technology, Services-Computer Programming, Data Processing, etc.

Key Financial Data

Market Cap: 134.26B

Current Price: $30.49

Dividend Yield: 0.5%

Price to Earnings Ratio: 17.36

52-Week High: $55.67

52-Week Low: $30.321

Volume: 142.71M

Average Volume: 996M

EPS: $520.89

PE Ratio: 1.141

Beta: 0.273

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Stock Analysis: C3 Ai Inc

C3 Ai Inc (C3)

Sector: Technology

Industry: Services-Prepackaged Software

Market Cap: $3,709,591,000

Dividend Yield: None

EPS: -2.34

PE Ratio: 2.602

Forward PE Ratio: -0.901

Volume: 310,582,000

Stock Price: $29.35

52-week Range: $0 - $0

RSI (14): 0.196


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Sector: Energy & Transportation

Industry: Electric Services

Market Cap: 2,105,237,000

Price: 4.839

Change: 0.225

Change %: 1.43

PE Ratio: 11.23

EPS: 0.194

Revenue: 3,213,000,000

Dividend Yield: 10.4

Beta: -0.343

Volatility: -0.13

Disclaimer

The opinions expressed by the writers at Grow My Bag are their own and do not reflect the official stance of Grow My Bag. The content provided on our site is not intended as investment advice, and Grow My Bag is not an investment advisor. We do not endorse buying or selling any cryptocurrencies or digital assets mentioned in our articles. High-risk investments in Bitcoin, cryptocurrencies, and digital assets require thorough due diligence, and all transfers and trades made are at your own risk. Grow My Bag is not responsible for any potential losses and participates in affiliate marketing.
 14 Nov 24
 14 Nov 24
 14 Nov 24