Southeast Asia’s Largest Bank DBS Sees 80% Increase in Bitcoin Trading Volume on Its Crypto Exchange

The largest slope successful Southeast Asia, DBS, has revealed that bitcoin trading measurement connected its cryptocurrency speech jumped 80% successful 2022 portion ether trading measurement surged 65%. “We judge that the marketplace has decisively shifted its absorption towards spot and stability, particularly successful the aftermath of aggregate scandals that person rocked the industry,” a DBS enforcement described.

DBS Sees Record Trading Volumes for Bitcoin and Ether

DBS, the largest slope successful Southeast Asia, announced past week that its integer plus speech saw grounds trading volumes for bitcoin and ether successful 2022. In addition, the fig of BTC and ETH nether custody astatine the slope soared during the aforesaid clip period.

According to the bank, the fig of bitcoin traded connected DBS Digital Exchange (DDEX) was adjacent to 80% higher year-on-year portion the fig of ether traded connected the level was astir 65% higher. The slope further revealed that the “number of bitcoin and ether custodised with DBS [is] up much than 100% and 60% respectively,” emphasizing that the maturation reflects the “continued spot of bank’s integer plus ecosystem contempt marketplace volatility.”

Lionel Lim, main enforcement of DBS Digital Exchange, commented:

We judge that the marketplace has decisively shifted its absorption towards spot and stability, particularly successful the aftermath of aggregate scandals that person rocked the industry.

The slope launched DBS Digital Exchange successful December 2020 arsenic a members-only speech for organization and accredited investors. In September past year, the slope rolled retired self-directed crypto trading via its DBS Digibank app.

DBS Digital Exchange presently offers spot trading of six cryptocurrencies: BTC, ETH, BCH, XRP, DOT, and ADA. Its lawsuit basal doubled successful 2022 from the erstwhile year, the slope said, adding that astatine the extremity of December, the DBS speech had adjacent to 1,200 registered participants.

“As a regulated integer speech backed by the DBS Group, we connection galore unsocial advantages that investors person travel to admit arsenic they question reliable gateways to entree the integer plus economy,” Lim detailed.

The largest slope successful Southeast Asia said it did not observe immoderate large sell-offs successful cryptocurrencies connected its level past twelvemonth contempt the crypto wintertime and respective large firms successful the abstraction filing for bankruptcy, including crypto speech FTX. The slope added that its exchange’s customers had a net-buy presumption passim the 2nd fractional of 2022.

Lim opined:

We person taken a prudent and measured attack towards processing our integer plus ecosystem, choosing to support gait with the marketplace arsenic it matures and arsenic investors go much sophisticated.

Last week, DBS unveiled its program to grow crypto services to customers successful Hong Kong. The slope intends to use for a integer plus licence arsenic the metropolis strives to go a crypto hub.

What bash you deliberation astir DBS seeing grounds trading volumes connected its crypto trading platform? Let america cognize successful the comments conception below.

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