Singapore’s Largest Bank DBS Sees Rapid Growth in Crypto Business, Robust Dem...
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....
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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.
DBS, Southeast Asia’s largest bank, has announced a series of milestones for its crypto business. Its brokerage arm has obtained preliminary approval from the Monetary Authority of Singapore (MAS), Singapore’s central bank, and its crypto exchange will start operating 24-7 to meet the growing demand for cryptocurrency. DBS Sees ‘Keen Interest Among Asset Managers and Corporates’ for Cryptocurrencies Southeast Asia’s largest bank, DBS, made several announcements Thursday. Firstly, the bank’s brokerage arm, DBS Vickers (DBSV), “has received....
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....
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....
The bank wants to use its membership to further explore the emerging possibilities opened up by blockchain technology. The Hedera Governing Council has welcomed Singapore’s oldest bank, DBS Bank, as its newest member, making it the first Southeast Asian lender to join the worldwide Hyperledger organization.DBS Bank, a member of the advisory council on fintech, has joined the blockchain council alongside 39 other major technology, corporate and nonprofit leaders, including Google, IBM, Boeing, Deutsche Telekom, the University of London, Dentons and LG Electronics, among others.The Asian....