Singapore’s Bank DBS Holdings Gains Rapid Growth in Crypto Business

DBS Group Holdings claimed that they are getting huge demand from the Institutional investors and it is expected that they will gain double the numbers of customers by the end of December. 

DBS Group Holdings is the largest bank of Singapore and South Asia. And this bank launched their digital platform to expand their business in December. This bank offered only four fiat currencies SGD, USD, HKD, and JPY to trade against four crypto assets Bitcoin cash, Bitcoin , Ethereum & XRP. Right now the growth in the digital assets based business is booming with very high speed. 

In an interview with Reuters, Senior Executive of DBG bank said that they are getting huge demand from the corporate investors, accredited individuals, and investment firms that manage assets of wealthy clients. 

And because of the increasing demand, they expect that they will get double the numbers of their clients and also they will get 20-30% per year growth in the members. 

The head of capital markets at DBS and chairperson of the exchange, Eng-Kwok Seat Moey, added 

“We are growing very rapidly. Investors are gradually exploring cryptocurrencies and digital assets”

At the time of launching, this bank claimed that they aimed to provide deal origination to tokenization, listing, trading, and custody. And it seems that DBS banking is getting that level of success in their business, where they didn’t expect ever. 

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