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Southeast Asia’s largest bank, DBS, has launched self-regulated cryptocurrency trading via its app. More customers are now eligible to access the bank’s digital asset exchange and trade cryptocurrencies, including bitcoin and ether.
DBS, the largest bank in Southeast Asia, announced on Friday that it “has rolled out self-managed crypto trading via DBS digibank.” Announcement Details:
Eligible customers can now trade cryptocurrencies on DBS Digital Exchange (Ddex) through DBS digibank at their convenience.
DBS digital asset exchange currently supports trading of four cryptocurrencies – bitcoin, bitcoin cash, ether and XRP. Previously, crypto trading on the exchange was limited to corporate and institutional investors, family offices and the bank’s private wealth management clients.
With Friday’s launch, DBS explained:
To begin with, an estimated 100,000 investors in Singapore meet these criteria and are eligible to access the services offered by DBS’s digital asset ecosystem.
Sim S. Lim, a head of the bank’s Consumer Banking and Wealth Management, said: “Expanding access to Ddex is another step in our efforts to provide sophisticated investors looking to dip their toes into cryptocurrencies with a seamless and secure way to That on. .”
In August, DBS said trading volume on the digital asset exchange increased. “Investors who believe in the long-term prospects of digital assets are gravitating towards trusted and regulated platforms to access the digital asset market,” the bank said. The bank also recently entered the metaverse by partnering with The Sandbox.
DBS Bank Group CEO Piyush Gupta said in March that he does not believe cryptocurrency will become money, but noted that “it can be an alternative to gold and its value.”
What do you think about DBS launching self-managed crypto trading via its app? Let us know in the comments section below.
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