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13 May 2021

Southeast Asia's Largest Bank DBS Says Trading Volumes on Its Cryptocurrency Exchange Have Increased 10 Times – Markets and Prices Bitcoin News

Southeast Asia's Largest Bank DBS Says Trading Volumes on Its Cryptocurrency Exchange Have Increased 10 Times – Markets and Prices Bitcoin News


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DBS, Southeast Asia’s largest bank, says that cryptocurrency trading volumes on its exchange have grown 10 times to around $30 million to $40 million.

DBS Bank CEO Piyush Gupta explained, “Our digital exchange capabilities are much like Coinbase.” He added that “The difference is that Coinbase is mass-market retail while we have been judicious by offering this to accredited investors and institutional counterparties to start with.”.

The bank said at launch that “The DBS Digital Exchange will offer exchange services between four fiat currencies (SGD, USD, HKD, JPY), and four of the most established cryptocurrencies, namely bitcoin, ether, bitcoin cash and XRP.”.

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