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DBS Vickers

Kenneth TANG, Global Head, Institutional Business, DBS Vickers Securities.jpg
Kenneth Tang, DBS Vickers Group

DBS Vickers is a powerhouse in Singapore’s brokerage market – perhaps not surprising given that it is owned by DBS Bank, the leader in the city-state’s financial market and among the most recognized banks globally.

Last year was an important one for DBS Vickers. In October, it won approval from the Monetary Authority of Singapore to provide digital payment token services, one of the first few firms to do so. This means DBS Vickers can directly support asset managers and companies which want to trade in digital payment tokens through the DBS Digital Exchange (DDEx), considered a key milestone in the bank’s asset digitalization strategy. DDEx, one of the world’s first bank-backed digital exchanges, provides a platform for investors to tap into the digital asset economy.

In the 2021 financial year, DDEx recorded over S$1.1 billion ($802 million) in trading value: momentum has picked up since DDEx became operational 24/7 in August 2021. DBS’s digital assets under custody exceeded S$800 million at the end of 2021, more than quadrupling since the end of the third quarter.