Southeast Asia’s Largest Bank DBS Sees 80% Increase in Bitcoin Trading Volume on Its Crypto Exchange – Featured Bitcoin News
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DBS, Southeast Asia’s largest bank, has seen a massive increase in trading volume on its crypto exchange. According to a report from Bloomberg, the exchange saw an 80% increase in bitcoin trading volume in the past two months.
The Singapore-based bank launched its crypto exchange in December 2020 and has since seen a steady increase in activity. The exchange allows users to buy, sell, and store digital assets such as bitcoin, ethereum, and ripple.
The exchange is part of the bank’s broader push into digital assets, which includes a partnership with blockchain platform Huobi to offer digital asset management services. The bank has also partnered with cryptocurrency exchange Kraken to offer crypto trading services.
The increase in trading volume is a sign that the bank’s customers are embracing the digital asset space. DBS CEO Piyush Gupta has said that the bank is “very bullish” on digital assets and believes that they will be a key part of the bank’s future.
The bank is also looking to expand its services to include other digital assets such as stablecoins and security tokens. The bank has already launched a stablecoin pegged to the Singapore dollar and is exploring the possibility of launching a security token offering.
The increase in trading volume is a sign that the bank’s customers are embracing digital assets and that the bank’s strategy is beginning to pay off. The bank is well-positioned to capitalize on the growing demand for digital assets and could become a major player in the space.
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