CryptoMediaClub
Friday, October 3, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home Bitcoin

Bitcoin trading up 80% at DBS Bank due to crypto crashes in 2022, says exec

10.05.2023
A A
0
129
VIEWS
ShareShare

Singapore government-owned megabank DBS is among the few companies worldwide that reaped major benefits from massive crypto industry collapses in 2022.

DBS Digital Exchange, DBS Bank’s institutional crypto trading platform, saw a significant increase in Bitcoin (BTC) trading volumes last year. According to DBS Digital Exchange CEO Lionel Lim, the number of DBS crypto clients more than doubled in 2022 compared to the previous year.

“Bitcoin trading volumes grew 80% at the digital exchange during the same period,” Lim said in an interview with Cointelegraph on May 8.

The executive believes that the spike in demand for crypto services at DBS Digital Exchange is a consequence of crypto exchange collapses in 2022. Lim noted that DBS continues to see a growing trend in volumes. He stated:

“DBS continues to benefit from the flight to safety and quality following the implosion of several exchanges last year.”

Evy Theunis, head of digital assets at DBS Bank, also told Cointelegraph that DBS had seen more cooperation inquiries from digital asset and blockchain firms in recent months.

Launched in 2020, DBS’ cryptocurrency exchange serves exclusively institutional investors. Despite considering expanding services to retail customers last year, DBS continues to be a members-only exchange serving corporate and institutional investors as of May 2023, Lim noted.

Before FTX collapsed in November 2022, a significant amount of crypto trading on the platform came from institutional investors. In March 2022, FTX launched a dedicated unit working with institutions. At the time, about two-thirds of trading volumes on FTX and FTX US were reportedly coming from institutional accounts.

While indicating a positive impact from crypto exchange crashes in 2022, Lim sees no influence coming from the ongoing banking crisis in the United States.

Related: Concern over banking crisis reaches levels unseen since 2008 — Poll

“Some of our market makers sought new USD banking rails following the collapse of the crypto-friendly U.S. banks,” Lim said. However, there has been no direct impact on DBS’ crypto exchange, he noted, stating:

“The collapse of the U.S. banks has not impacted our product and service pipeline. That said, we keep a close watch on these developments and are prepared to adjust our plans if necessary.”

While being a crypto-friendly bank itself, DBS is not worried about any risks allegedly stemming from its crypto exposure.

“DBS does not rehypothecate or trade digital assets in clients’ custody. As such, there is no liquidity risk,” Lim told Cointelegraph. “Our clients’ digital assets are in custody with DBS Bank, separate from DBS Digital Exchange,” the CEO noted.

Magazine: Unstablecoins: Depegging, bank runs and other risks loom

Share10Tweet6ShareSharePin2

Related Posts

Coinbase’s Astounding $100 Billion Milestone Amidst Bitcoin’s Record Surge
Bitcoin

Coinbase’s Astounding $100 Billion Milestone Amidst Bitcoin’s Record Surge

15.07.2025
0

BitcoinWorldCoinbase’s Astounding $100 Billion Milestone Amidst Bitcoin’s Record Surge The cryptocurrency world is buzzing with excitement, and for good reason!...

Read moreDetails
Bitcoin’s Unseen Ascent: Why Market Euphoria Is Still Ahead, According to Alphractal CEO

Bitcoin’s Unseen Ascent: Why Market Euphoria Is Still Ahead, According to Alphractal CEO

14.07.2025
Bitcoin Holdings Soar: The Blockchain Group’s Momentous Digital Asset Accumulation

Bitcoin Holdings Soar: The Blockchain Group’s Momentous Digital Asset Accumulation

14.07.2025
Bitcoin’s Astonishing Anomaly: Why Public Search Interest Remains Low Despite Record Highs

Bitcoin’s Astonishing Anomaly: Why Public Search Interest Remains Low Despite Record Highs

14.07.2025
Bitcoin Treasury Strategy: Unleashing Growth with The Blockchain Group’s $3.52M Boost

Bitcoin Treasury Strategy: Unleashing Growth with The Blockchain Group’s $3.52M Boost

08.07.2025
Load More
Next Post
BobaBNB Surpasses 45,000 Wallets With Record 2.8 Million Transactions in April

BobaBNB Surpasses 45,000 Wallets With Record 2.8 Million Transactions in April

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

$151M XRP Withdrawn From Binance in 24 Hours — Are Whales Accumulating?

$151M XRP Withdrawn From Binance in 24 Hours — Are Whales Accumulating?

4 months ago
Warren Buffett was wrong about a ‘rat poison’ Bitcoin portfolio, data shows

Warren Buffett was wrong about a ‘rat poison’ Bitcoin portfolio, data shows

2 years ago
Injective Protocol’s inEVM Nears Completion, Bridging Ethereum and Low-Fee Derivatives Trading

Injective Protocol’s inEVM Nears Completion, Bridging Ethereum and Low-Fee Derivatives Trading

2 years ago
Solana DEX Volume Hits Record Highs Amid Surging Memecoin Mania

Solana DEX Volume Hits Record Highs Amid Surging Memecoin Mania

11 months ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

Why is Bitcoin near all-time highs? Everything that happened in crypto today

Spot Bitcoin ETF Volume Tops $5 Billion as Price Breaks $120K – ATH Next?

PUMP Price Prediction: Key Indicator Just Flashed Green – PUMP is About to Explode Higher

CME Group to Launch 24/7 Crypto Futures and Options Trading in Early 2026

From Bitcoin to DeFi 2.0, the Trends Driving Crypto’s Future: WisdomTree Analyst

$4B BTC in 4 weeks: How Bitcoin ETFs buy more than double the BTC mined

Trending

Crypto Price Prediction Today October 2 – XRP, Pepe, Dogecoin
All news

Crypto Price Prediction Today October 2 – XRP, Pepe, Dogecoin

03.10.2025
0

The market has surged to a cap of $4.18 trillion today, with the crypto price prediction for...

Will a Europe-US BTC reserve race actually happen?

Will a Europe-US BTC reserve race actually happen?

03.10.2025
XRP Price Prediction: SWIFT Partners With Ethereum Firm – Is Ripple Losing the Payments Race It Started?

XRP Price Prediction: SWIFT Partners With Ethereum Firm – Is Ripple Losing the Payments Race It Started?

03.10.2025
Why is Bitcoin near all-time highs? Everything that happened in crypto today

Why is Bitcoin near all-time highs? Everything that happened in crypto today

03.10.2025
Spot Bitcoin ETF Volume Tops $5 Billion as Price Breaks $120K – ATH Next?

Spot Bitcoin ETF Volume Tops $5 Billion as Price Breaks $120K – ATH Next?

03.10.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz