Digital silver transactions reached 58.1 billion won in just three weeks, surpassing last year's bank silver bar sales.

As silver prices continue to soar, cumulative digital silver trading volume this year has surpassed last year's annual bank silver bar sales. This is considered an emerging investment trend, as it allows for easy trading at any time without the burden of physical storage.

According to the Busan Digital Asset Exchange (BIDAN) on the 23rd, the cumulative transaction volume of BIDAN's digital silver product, "e-silver," reached approximately 58.1 billion won this year, surpassing the total silver bar sales of the four major banks last year (approximately 30.7 billion won). The total transaction volume on BIDAN in the first half of last year, which was 23.9 billion won, also more than doubled in just three weeks.



eSilver, a product based on physical silver, is considered price-competitive compared to spot purchases and exchange-traded funds (ETFs). Furthermore, purchases can be made in quantities as small as 1 gram through the app, making silver ownership easy and convenient for anyone.

Trading hours are flexible. Silk can be traded 23 hours a day, allowing for flexible responses to global market trends. Purchased silver is physically stored in a warehouse within a secure area, ensuring the safe protection of your assets.

Currently, Bidan offers trading in seven precious metals: e-silver, e-gold, e-copper, e-platinum, e-palladium, e-tin, and e-nickel. The platform plans to expand its product portfolio. As of December last year, Bidan had 1.23 million cumulative members and a cumulative transaction volume of 1.58 trillion won.

Meanwhile, silver is establishing itself as a leading investment asset, with some analyzing that its price has become relatively undervalued since the soaring price of gold. Furthermore, China's silver export restrictions in October of last year, followed by the US designation of silver as a "critical mineral" in November, led to panic buying to secure supplies, which is also cited as a contributing factor to the price surge.

According to Investing.com, spot silver was trading at $98.61 as of 11:00 a.m. today, up 2.5% from the previous trading day. The price of e-silver in silk was 5,109 won per gram as of 9:00 a.m. today, more than tripling compared to a year ago. It continues its steep upward trend, recording a 105% increase over the past three months alone.

Kim Sang-min, CEO of the Busan Digital Asset Exchange, said, “Physical assets like silver have had barriers to entry as mass-market commodities due to limitations in storage and liquidity.” He added, “Silk will share high returns by expanding investment opportunities for the public and lead the innovation of digitally trading all valuable commodities.”

Reporter Kim Jeong-woo