• “Investors Are Gradually Exploring Cryptocurrencies and Digital Assets,” says Singapore’s DBS Bank CEO

  • DBS Group Holdings expects to expand its digital asset products and double the number of members on its crypto trading platform by the end of the year, with annual growth of 20-30% over the next few years.

    In an interview, a senior DBS executive stated that the platform, which was originally designed as a members-only solution, is now seeing significant demand from institutional and corporate investors. Investors are becoming more interested in the industry and the various digital assets available.

    DBS entered the cryptocurrency industry after its CEO, Piyush Gupta, invested billions in the bank’s technical infrastructure. The bank’s ecosystem has adopted cloud computing and has seen the digitalization of the majority of its services. DBS positions itself as the sole provider of bank-backed digital asset solutions such as cryptocurrency trading, tokenization, and highly sought-after custody services.

    To keep up with the total digitalization and tokenization trends, banks must balance their clients’ interest in cryptocurrency assets with the regulatory issues that come with digital asset operations.

    DBS is one of Asia’s largest fund managers, which means that a growing presence in the digital assets industry will attract even more institutional or corporate investors from the continent. DBS, like other banks, is looking forward to transitioning its business model to fee-based income, which has already become a standard method of monetizing business functions in the cryptocurrency field.

    The DBS digital asset platform’s main product is its cryptocurrency exchange. It allows you to trade the most popular cryptocurrencies, such as Bitcoin and Ethereum, against popular Asian currencies, such as Japanese yen and Hong Kong and Singapore dollars. According to Kwee Juan Han, DBS group head of strategy and planning, the exchange is expected to generate $250 million in revenue by the end of next year.

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