Platform for Blockchain Analysis Nansen DBS is the largest bank in Singapore. Ethereum After identifying the wallet that was purportedly owned by a whale financial institution.
Social media on May 30, postNansen claims DBS has approximately 173,753 ETH worth $648 Million in its wallet address “0x9e927c02c9eadae63f5efb0dd818943c7262fb8e.” The bank said that it had earned over $200,000,000 from its ETH investments.
Edward Wilson, an analyst at Nansen said:
“Nansen is 100% sure this belongs to DBS – DBS owns the private key of this wallet and these assets are most likely a part of their custody solution.
This is similar to how we see institutions, both crypto-native like exchanges such as Binance or Coinbase custody funds on behalf of their users and non crypto native custody funds. The institution is the custodian and responsible for managing the security of the funds.”
Top 50
Etherscan data Shows that the substantial ETH Bag would put the financial The institution is among the 40 largest digital assets by capitalization.
It is also behind centralized exchanges such as Crypto.com Hot Wallet 1 and Bybit. DBS is currently the only bank that offers a traditional wallet. financial This list is dominated by crypto exchanges, major platforms and other institutions. BinanceRobinhood Arbitrum Bridge and Kraken.
Wikipedia has a lot to say about it pageDBS, the biggest bank in Southeast Asia in terms of assets, is also one of the largest in Asia with assets worth S$739bn as at December 2023. Singapore’s Sovereign Wealth Fund Temasek is the bank’s largest and controlling shareholder.
Customers’ assets?
Members of the Crypto Community said DBS’s ETH possession was another indication that institutional investors were increasingly interested in cryptocurrency as a legit asset class.
Some have speculated, however, that the ETH may belong to bank customers. In 2020, it launched a platform to trade crypto and store digital assets for security tokens. Its website:
“DBS Digital Exchange offers trading services between four fiat currencies (SGD, USD, HKD, JPY), and six of the more established cryptocurrencies, namely Bitcoin, Ethereum, Bitcoin Cash, Polkadot, Cardano and XRP.”
Recent studies have shown that the number of people who are able to speak English is increasing. reportDBS has noted an increased interest from hedge funds, retail investors and large volume traders in the cryptocurrency market.
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Source: cryptoslate.com