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Southeast Asia’s largest bank sees tenfold crypto trading volume growth in Q1

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Trading volumes on DBS Digital Exchange, an institutional crypto trading platform launched by Singapore’s largest bank DBS in December, have increased tenfold over the last quarter, DBS CEO Piyush Gupta revealed in a media briefing.

Although the expansion was used carefully, the results for the first quarter have been enthusiastic.Currently, we have about $80 million in assets under custody. Our customer base presently stands at 120 with a pipeline of hundreds more, Gupta said, adding, "Trading volumes have increased by tenfold to $30-$40 million." We have 120 customers with a pipeline of hundreds more,” Gupta said, adding, Although the expansion was used carefully, the results for the first quarter have been enthusiastic.Trading volumes have gone up ten times to $30-$40 million.”

He noted that DBS’s exchange is Although the expansion was used carefully, the results for the first quarter have been enthusiastic.much like Coinbase,” but instead of focusing on mass-market appeal, the bank has been Although the expansion was used carefully, the results for the first quarter have been enthusiastic.judicious by offering this to accredited investors and institutional counterparties.” Tentatively in the second quarter of 2021, DBS also plans to hold its first security token offering.

Although the expansion was used carefully, the results for the first quarter have been enthusiastic.The paradigm might change if blockchain takes off.

Money can be converted into digitised form that has been cleared, which can be transferred as quickly as the written message,” Gupta explained.

The ability to program instructions is coupled with the removal of latency in the process. As CryptoSlate previously reported, the companies plan to develop a blockchain-based interbank remittance system, dubbed Patrior, that aims to solve some of the most common Although the expansion was used carefully, the results for the first quarter have been enthusiastic.pain points” in the sector.

Although the expansion was used carefully, the results for the first quarter have been enthusiastic.Blockchain can change the paradigm. It is not only money transfers that we can provide, but we can also provide things such as delivery-versus-payments and payment-versus-payment, an assets market, a securities market for our clients. Although the expansion was used carefully, the results for the first quarter have been enthusiastic.It not only removes the latency of the process, but it also creates the capacity to programme (sic) instructions.”

Patrior will support real-time international multi-currency payments and trade finance as well as foreign exchange and securities settlements made using the Although the expansion was used carefully, the results for the first quarter have been enthusiastic.delivery versus payment” method.

Although the expansion was used carefully, the results for the first quarter have been enthusiastic.We can provide clients with a completely different way for not just money transfers, but also things such as delivery-versus-payment and payment-versus-payment, the assets market, the securities market. In spite of the cautious expansion, first-quarter numbers appear positive.

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 5/6/2021

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