DBS benefits from flight to safety by institutional crypto investors

finextra.com:

DBS believes the metrics reflect a trend by investors towards trusted and regulated platforms to access the market following the collapse of FTX and associated firms.DBS holds all custodised digital assets separately within the bank itself using institutional-grade cold wallets. The bank also conducts coin purity checks on all digital assets entering its custody, while complying with all prevailing AML and KYC rules.

Lionel Lim, CEO of the DBS Digital Exchange, says: “We believe that the market has decisively shifted its focus towards trust and stability especially in the wake of multiple scandals that have rocked the industry. As a regulated digital exchange backed by the DBS Group, we offer many unique advantages that investors have come to appreciate as they seek reliable gateways to access the digital asset economy.”He says that DBS did not observe any major selloffs in 2022, with DDEx recording a net buy position for its customers throughout the second half of the year.Commenting on opportunities in the Security Token Offering (STO) space, Lim says: “In 2022, we saw growing interest from our corporate clients and were actively working towards converting a number of enquiries into STOs.

However, these were put on hold given the market volatility as well as macroeconomic uncertainty. We will continue to work with these potential issuers as well as explore origination opportunities for high quality STO listings in 2023.”