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The largest bank in Singapore disclosed the results of its own bitcoin exchange

DBS Group has published financial results for the first quarter of 2021. In particular, the largest financial holding in Singapore has disclosed the performance of its own cryptocurrency exchange – DBS Digital Exchange.

During the reporting period, the trading volume on the platform focused on institutional and accredited investors increased more than tenfold – up to $ 23- $ 30 million.

According to the document, the exchange serves the accounts of 120 clients and “hundreds, possibly thousands, are waiting in line”. The platform manages assets worth $ 60 million.

At a meeting with investors, CEO of the holding Piyush Gupta [Piyush Gupta] advised not to expect profits from this direction before 2022. So far, the platform’s contribution to the structure of DBS Group’s income is less than one percent.

In the second quarter, the exchange expects to hold the first STO on its site. It will also introduce custodian services and develop the Partior blockchain platform, which is being developed jointly with Temasek and JPMorgan.

Recall that in December 2020, the holding launched a platform for trading digital assets. The Singapore Stock Exchange has acquired a 10% stake in DBS Digital Exchange.

1Q21 Media Briefing by ForkLog on Scribd

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Fidenge Pecold

My profession is a journalist, but my hobby for 8 years has been studying Forex investing and trading. During this time, I managed to gain extensive experience in investing and trading cryptocurrencies and double my capital in the Forex market. To be the author of this magazine, the site owners invited me to participate in one of the 2020 trading webinars, and I will try to reveal the most relevant crypto market news for you.

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