Back
Singapore’s DBS Bank Receives $6.27M in Ethereum from Galaxy Digital

Singapore’s DBS Bank Receives $6.27M in Ethereum from Galaxy Digital

DBS Bank has recently added significant Ethereum inflows from GSR and other sources, signaling continued large-scale institutional accumulation of crypto assets.

ETH

Summary

DBS Bank has received 2,000 Ethereum (ETH) worth about $5.93 million from market maker GSR, following an earlier acquisition of 2,000 ETH valued at $6.27 million from Galaxy Digital. Over the past two days, DBS’s total inflow reached 4,400 ETH worth approximately $13.2 million, underscoring its ongoing expansion in digital asset holdings.

Terms & Concepts
  • Ethereum (ETH): A blockchain platform and cryptocurrency used for decentralized applications and smart contracts (self-executing blockchain code).
  • Galaxy Digital: A cryptocurrency-focused financial services firm offering trading, asset management, and investment banking.
  • Bitcoin (BTC): The first and most widely recognized cryptocurrency, used as a decentralized digital currency.