Singapore-based largest bank DBS is preparing to increase its cryptocurrency investments despite bad market conditions.
DBS bank, which was licensed by the Monetary Authority of Singapore last year to serve cryptocurrencies and launch a digital exchange, For 300 thousand wealthy customers Cryptocurrency wants to increase its investment in assets. Manages $488 billion in assets DBS, one of the largest banks in Asia, will not only offer crypto services to its customers. At the same time, it is known that they want to improve the cumbersome structure of getting this service and offer a faster and safer experience.
Expressing that customers showed great interest in the digital exchange opened last year, the CEO of the bank Piyush Guptacurrently 1,000 He stated that they have a digital investor portfolio of around 1,000,000 but they aim to increase it rapidly.
In an interview with the Financial Times, CEO Piyush Gupta mentioned that these 300 thousand customers will be carefully selected and among these customers will be wealthy people, accredited investors and private banks.
People want us to be pioneers in this space and keep pushing the boundaries. On the one hand, we want to achieve the position of a cryptocurrency center in Singapore. But we are also very concerned about the damage to our local population with this speculative asset class.
Also, before DBS’s digital banking initiative, Gupta had many customers Binance to stock markets such as close to 1 billion dollars He added that, from this point on, it would be more reasonable for customers to choose a bank that is protected and guaranteed by the state.