Singapore’s Largest Bank To Expand Bitcoin, Crypto Services Amid Bear Market
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.DBS bank in Singapore wants to expand its digital asset offerings to more of its 300,000 users.The bank is also looking to upgrade its mobile application to make the process more user-friendly. DBS holds $488 billion in total assets as of December 31, 2021. DBS Group Holdings, Singapore’s largest bank, is looking to expand its bitcoin and cryptocurrency services to 300,000 of its wealthiest users, per a report from the Financial Times. In....
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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.
Amid global expansion moves, Coinbase announced on October 1 that it secured a new Major Payment Institution (MPI) license in Singapore. This license will enable it to expand its digital asset payment services to Singapore’s retail and institutional customers. The MPI license comes one year after Coinbase obtained an in-principle approval from Singapore’s Monetary Authority […]
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....
Despite the ongoing bear market, family offices and high-net-worth individuals in Hong Kong and Singapore are keen to invest in crypto or already have holdings. Hong Kong and Singapore’s wealthy elite appear to be looking at digital assets with fervor, after a new report from KPMG suggesting over 90% of family offices and high-net-worth individuals (HNWI) are interested in investing in the digital assets space or have already done so. According to an Oct. 24 report from KPMG China and Aspen Digital titled “Investing in Digital Assets,” as much as 58% of family offices and HNWI of....
DBS Bank’s crypto exchange launched in late 2020, allowing to trade cryptocurrencies only to professional investors. DBS Bank, Singapore’s largest bank, is working on expanding its cryptocurrency exchange beyond its current investor base of institutional clients, according to the CEO.DBS Bank CEO Piyush Gupta spoke of the bank’s cryptocurrency business during the Q4 2021 earnings call on Monday, stating that the company will focus on measures to further scale its crypto exchange operations in 2022.During the call, Gupta was asked whether DBS Bank has a roadmap for rolling out digital asset....