Largest Southeast Asian Bank DBS Sees Crypto Trading Volumes Soar as Investors Bought the Dip
$DBS Group Holdings(D05.SG$ $Crypto ETFs(BK2595.US$
DBS, the largest bank in Southeast Asia by assets, announced that DBS Digital Exchange has benefited as crypto investors sought safety amid market volatility.
DBS, the largest bank in Southeast Asia by assets, announced that DBS Digital Exchange has benefited as crypto investors sought safety amid market volatility.
“With the digital asset industry experiencing unprecedented volatility … DBS’ digital asset ecosystem has been a beneficiary of this flight to safety,” the bank detailed, elaborating:
"Investors who believe in the long-term prospects of digital assets are gravitating towards trusted and regulated platforms to access the digital asset market."
As investors bought the dip, the total number of trades executed on Ddex in June was more than double that of April, DBS stated, adding that “Buys accounted for over 90% of trades on Ddex in June 2022.”
The largest bank in Southeast Asia continued:
"Similarly, the quantity of ETH bought on Ddex in June 2022 was 65% higher than that of April 2022. "
In addition, DBS revealed that customers are storing more digital assets using its institutional-grade custody solution.
"Investors today are instead seeking out safe harbours to trade and store their digital assets amid the ongoing market volatility." The bank launched a cryptocurrency exchange in December 2020. It then launched a trust service for cryptocurrencies in May last year, followed by the launch of its first security token offering.
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whqqq : Can the bank remind customers of trading risks, such as when the market is about to plummet? Or just to protect them from theft?
BullnBearTradingOP whqqq: Maybe the investment manager can do that
