Singapore’s biggest bank launches crypto trust solution
After posting tenfold crypto volume growth in Q1 2021, DBS Private Bank is expanding its crypto services with a new trust solution. DBS Private Bank, one of the biggest wealth managers in Asia outside China, has launched a cryptocurrency trust solution amid growing demand for digital assets.After setting up its own crypto exchange in December 2020, the Singaporean banking giant is now expanding its crypto services via its wholly-owned trust company DBS Trustee, The Business Times reports Friday.The new crypto trust solution allows the company’s private banking clients to invest, custody....
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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.
The stablecoin issuer said the regulatory approval would help support its partners in expanding services into Asia. The Monetary Authority of Singapore, or MAS, has granted stablecoin issuer Paxos regulatory approval to offer crypto services to local companies.In a Thursday announcement, Paxos said it had received a license from Singapore’s financial regulator allowing the firm to provide blockchain and crypto services under the country’s Payment Services Act. The stablecoin issuer said the regulatory approval would help support its partners in expanding services into Asia.“We’re excited....
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....
DBS Bank Ltd is looking to offer support for Bitcoin as it looks to capitalize on the growing demand for cryptocurrency investments among consumers. Singapore’s biggest banking corporation unveiled a flagship cryptocurrency trading service, dubbed as DBS Digital Exchange, in a “soft-launch.” It later removed the webpage from public view, leaving the Bitcoin community guessing about […]
Andhra Pradesh, an Indian state located in the south of the country and the Monetary Authority of Singapore (MAS), the country’s central bank, have announced a partnership that will aim to promote Fintech innovation with a focus on blockchain and digital payments. Signed on Saturday in India, the “Fintech Cooperation Agreement” will see the MAS, Singapore’s financial regulator and central bank, partner Andhra Pradesh, a state known for its pro-tech ideologies with a history of welcoming foreign investment and partnerships to set up infrastructure within its state boundaries. A press....