Largest Southeast Asian Bank DBS Sees Crypto Trading Volumes Soar as Investors Bought the Dip

DBS, the largest slope successful Southeast Asia, says that it has benefited from the caller crypto marketplace sell-off. The trading measurement of its crypto speech astir doubled successful July, compared to April. The quantity of bitcoin bought connected its speech grew astir 4 times during that clip period.

DBS Crypto Customers Bought the Dip

DBS, the largest slope successful Southeast Asia by assets, announced Monday that DBS Digital Exchange (Ddex) has benefited arsenic crypto investors sought information amid marketplace volatility. DBS, headquartered and listed successful Singapore, has a beingness successful 18 markets.

“With the integer plus manufacture experiencing unprecedented volatility … DBS’ integer plus ecosystem has been a beneficiary of this formation to safety,” the slope detailed, elaborating:

Investors who judge successful the semipermanent prospects of integer assets are gravitating towards trusted and regulated platforms to entree the integer plus market.

As investors bought the dip, the full fig of trades executed connected Ddex successful June was much than treble that of April, DBS stated, adding that “Buys accounted for implicit 90% of trades connected Ddex successful June 2022.”

The largest slope successful Southeast Asia continued:

The quantity of BTC bought connected Ddex successful June 2022 was astir 4 times that of April 2022. Similarly, the quantity of ETH bought connected Ddex successful June 2022 was 65% higher than that of April 2022.

In addition, DBS revealed that customers are storing much integer assets utilizing its institutional-grade custody solution.

The fig of bitcoin (BTC) nether custody arsenic of June 30 grew by astir 30% since April 30 portion the fig of ether (ETH) nether custody grew by astir 3% during the aforesaid clip period.

Meanwhile, DBS noted that its crypto exchange’s lawsuit basal continued to turn passim the marketplace volatility. The Ddex speech “registered a 10% maturation successful its lawsuit base” arsenic of June 30 arsenic compared to April 30. Moreover, inquiries from firm and organization investors besides remained strong, the slope said.

DBS Digital Exchange CEO Lionel Lim commented, “What we are seeing successful the integer plus manufacture is simply a large reset arsenic the concern communicative shifts decisively distant from the pursuit for yield,” adding:

Investors contiguous are alternatively seeking retired harmless harbours to commercialized and store their integer assets amid the ongoing marketplace volatility.

DBS besides noted that it is “on way to rotation retired self-directed trading for accredited investors successful the coming months.”

The slope launched a cryptocurrency speech successful December 2020. It past launched a spot work for cryptocurrencies successful May past year, followed by the motorboat of its archetypal information token offering.

What bash you deliberation astir DBS increasing trading volumes and lawsuit basal amid crypto winter? Let america cognize successful the comments conception below.