In addition to larger Asian exchanges capturing a slice of the volume of trades passing through the Singapore Exchange, a completely different type of exchange and asset class is grabbing the attention and pockets of young equity and derivative investors here. 

These are digital exchanges that trade popular digital assets like cryptocurrencies and non-fungible tokens (NFT), which are units of data stored on a digital ledger or blockchain. Items that can be traded on these digital exchanges also include tokenised shares or currencies.

As seen in recent years, investor interest in cryptocurrencies, especially from big financial institutions, has sent prices soaring to record highs. The most popular cryptocurrency, Bitcoin, reached a peak of over US$63,000 ($70,312) per Bitcoin in April before crashing to hover around US$40,000 as of June 15. 

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook