Singapore’s largest bank DBS sets up crypto exchange platform
Singapore’s stock exchange SGX will also have a stake in the platform. After anticipating its plans in October, DBS, Singapore’s largest bank, is establishing a new cryptocurrency exchange division called DBS Digital Exchange.Announced on Thursday, the venture is also backed by SGX, Singapore’s largest derivatives and asset exchange, which owns a 10% stake in the crypto platform.The crypto exchange will only be accessible to institutional and accredited investors, who will be able to trade Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH) and XRP. In addition, DBS Digital Exchange will....
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Following the release of Singapore’s digital asset framework, the country’s largest bank expanded its members-only digital exchange to 100,000 more clients.
Another global bank believes that digital assets are the future of the global economy. DBS, Singapore’s largest retail and commercial bank, seems to be entering the cryptocurrency space with three new offerings.According to information seen by Cointelegrpah, DBS is launching cryptocurrency trading and custody as well as a platform for conducting security token offerings.Snapshot of new services to be offered by DBS. Source: CointelegraphAccording to a description of the platform seen by Cointelegraph, DBS’ upcoming crypto service — the DBS Digital Exchange — will support five major....
DBS Group Holdings, the largest bank in Singapore and Southeast Asia, says its crypto business is “growing very rapidly.” The bank’s digital asset trading platform expects to double the number of members by year-end.
Singapore’s DBS Expects Substantial Growth in Crypto Business
DBS’s senior executives said in an interview, published by Reuters Monday, that the bank is seeing robust demand from corporate investors, accredited individuals, and investment firms that manage assets of wealthy families.
The executives added that the bank....
DBS Bank CEO Piyush Gupta said the bank's exchange has scheduled a token offering for quarter two. DBS Bank, Singapore’s largest retail and commercial bank, has announced its first-quarter financial results following the launch of its institutional cryptocurrency exchange in December 2020.DBS chief financial officer Chng Sok Hui said that the bank saw record performance as quarterly net profit surpassed $2 billion for the first time in history, doubling from the previous quarter.DBS’ newly launched crypto platform, DBS Digital Exchange, apparently played a significant role in the bank’s....
DBS Group Holdings is looking to expand its digital asset exchange to 300,000 of its wealthiest clients across Asia and build out new products.