Largest Southeast Asian Bank DBS Sees Crypto Trading Volumes Soar as Investors Bought the Dip

“With the digital asset industry experiencing unprecedented volatility … DBS’ digital asset ecosystem has been a beneficiary of this flight to safety,” the bank detailed, elaborating:

As investors bought the dip, the total number of trades executed on Ddex in June was more than double that of April, DBS stated, adding that “Buys accounted for over 90% of trades on Ddex in June 2022.”

The largest bank in Southeast Asia continued:

"Similarly, the quantity of ETH bought on Ddex in June 2022 was 65% higher than that of April 2022. "

In addition, DBS revealed that customers are storing more digital assets using its institutional-grade custody solution.

"Investors today are instead seeking out safe harbours to trade and store their digital assets amid the ongoing market volatility." The bank launched a cryptocurrency exchange in December 2020. It then launched a trust service for cryptocurrencies in May last year, followed by the launch of its first security token offering.