Breaking news
DBS Team
Holdings, an investment holding company from Singapore, announced on Wednesday
that its DBS Digital Commerce (DDEx) crypto change Bitcoin (BTC) trading
volumes rose 80% year-over-year (YoY). Additionally, the collection of tokens held
in custody increased twofold.
DBS Crypto Commerce
Reports Trading Surge
Additionally, the click
unencumber mentioned that Ethereum (ETH) trading volumes rose, achieving a 65%
YoY increase. The change didn’t provide proper buck figures for the volumes, nonetheless they
are corresponding to figures from a year in the past attributable to distinguished tag declines for
necessary digital sources in 2022. Over the direction of 2022, bitcoin misplaced practically 70%,
starting the year at $46,000 and ending below $17,000.
“The
market has decisively shifted its heart of attention towards belief and balance, particularly
in the wake of a couple of scandals which own rocked the industry,” Lionel
Lim, the CEO of the DBS Digital Commerce, commented.
Lim used to be
referring to the give scheme of the Terra ecosystem in Could possibly perhaps additionally merely and the give scheme of the cryptocurrency change FTX in November. The platform he represents benefited
from the incontrovertible truth that digital sources investors had been looking for a real platform the build they can also continue to trade in the face of heightened volatility.
Two Years of DDEx Increase
DBS, the
ideal lender in Southeast Asia, made up our minds to space up its digital sources trading
platform rather early in contrast to completely different traditional finance giants. DDEx
started its operation in late 2020, aiming at institutional and ‘elite’ retail
investors. It used to be one of the main cryptocurrency exchanges in the realm to be 100%
created and managed by a traditional financial institution.
Betting on the
continued increase of its crypto change, DBS mentioned this week that it plans to
apply for a license to enable it to give cryptocurrencies to Hong Kong
customers.
“We
are planning to consume for a licence in Hong Kong so that the financial institution can also sell
digital sources to our Hong Kong customers,” Sebastian Paredes, the CEO of Hong Kong’s DBS Bank, commented on Monday’s press briefing.
The toddle
comes as Hong Kong takes steps to entice more cryptocurrency firms in a reveal to
turn into a regional crypto hub. As native regulations turn into transparent, DBS
needs to turn into one of the banks interested in jointly building a recent foothold
in the digital asset industry.
The
institution has been working on developing safety-token offerings (STOs), nonetheless it has made up our minds to postpone them for the time being attributable to the current
macroeconomic uncertainties and crisis in the industry. Then again, it intends to
resume work on STO listings later this year.
Look the present FMLS22 panel titled “To Crypto or No longer to Crypto: Will Crypto Fizzle Out of Right here to Maintain?”
DBS Bets on Crypto and
Blockchain Industry
Sooner than
launching its admire cryptocurrency change, DBS had already been involved in
digital asset tasks and blockchain technology. In Could possibly perhaps additionally merely 2020, it grew to turn into the
first financial institution from Singapore to join the Contour trade-finance blockchain network,
which is constructed on R3’s Corda.
A year
later, the financial institution partnered with JPMorgan and Temasek to launch a blockchain-primarily based fully
wicked-border funds platform. In the identical year, it started issuing blockchain
bonds called DBS Digital Bonds.
In early
2022, DBS announced its plans to increase its existing change offering to
retail investors. The toddle used to be imagined to occur by the finish of final year nonetheless has been effect on preserve attributable to the beforehand mentioned turmoil.
DBS Team
Holdings, an investment holding company from Singapore, announced on Wednesday
that its DBS Digital Commerce (DDEx) crypto change Bitcoin (BTC) trading
volumes rose 80% year-over-year (YoY). Additionally, the collection of tokens held
in custody increased twofold.
DBS Crypto Commerce
Reports Trading Surge
Additionally, the click
unencumber mentioned that Ethereum (ETH) trading volumes rose, achieving a 65%
YoY increase. The change didn’t provide proper buck figures for the volumes, nonetheless they
are corresponding to figures from a year in the past attributable to distinguished tag declines for
necessary digital sources in 2022. Over the direction of 2022, bitcoin misplaced practically 70%,
starting the year at $46,000 and ending below $17,000.
“The
market has decisively shifted its heart of attention towards belief and balance, particularly
in the wake of a couple of scandals which own rocked the industry,” Lionel
Lim, the CEO of the DBS Digital Commerce, commented.
Lim used to be
referring to the give scheme of the Terra ecosystem in Could possibly perhaps additionally merely and the give scheme of the cryptocurrency change FTX in November. The platform he represents benefited
from the incontrovertible truth that digital sources investors had been looking for a real platform the build they can also continue to trade in the face of heightened volatility.
Two Years of DDEx Increase
DBS, the
ideal lender in Southeast Asia, made up our minds to space up its digital sources trading
platform rather early in contrast to completely different traditional finance giants. DDEx
started its operation in late 2020, aiming at institutional and ‘elite’ retail
investors. It used to be one of the main cryptocurrency exchanges in the realm to be 100%
created and managed by a traditional financial institution.
Betting on the
continued increase of its crypto change, DBS mentioned this week that it plans to
apply for a license to enable it to give cryptocurrencies to Hong Kong
customers.
“We
are planning to consume for a licence in Hong Kong so that the financial institution can also sell
digital sources to our Hong Kong customers,” Sebastian Paredes, the CEO of Hong Kong’s DBS Bank, commented on Monday’s press briefing.
The toddle
comes as Hong Kong takes steps to entice more cryptocurrency firms in a reveal to
turn into a regional crypto hub. As native regulations turn into transparent, DBS
needs to turn into one of the banks interested in jointly building a recent foothold
in the digital asset industry.
The
institution has been working on developing safety-token offerings (STOs), nonetheless it has made up our minds to postpone them for the time being attributable to the current
macroeconomic uncertainties and crisis in the industry. Then again, it intends to
resume work on STO listings later this year.
Look the present FMLS22 panel titled “To Crypto or No longer to Crypto: Will Crypto Fizzle Out of Right here to Maintain?”
DBS Bets on Crypto and
Blockchain Industry
Sooner than
launching its admire cryptocurrency change, DBS had already been involved in
digital asset tasks and blockchain technology. In Could possibly perhaps additionally merely 2020, it grew to turn into the
first financial institution from Singapore to join the Contour trade-finance blockchain network,
which is constructed on R3’s Corda.
A year
later, the financial institution partnered with JPMorgan and Temasek to launch a blockchain-primarily based fully
wicked-border funds platform. In the identical year, it started issuing blockchain
bonds called DBS Digital Bonds.
In early
2022, DBS announced its plans to increase its existing change offering to
retail investors. The toddle used to be imagined to occur by the finish of final year nonetheless has been effect on preserve attributable to the beforehand mentioned turmoil.
