The Singaporean largest bank to trade Crypto and custody
It seems that a new global bank is considering crypto assets as the future of the world economy.
The largest retail and commercial bank in Singapore, DBS, is apparently introducing itself to the crypto world with 3 new offerings.
DBS is going to launch cryptocurrency trading, custody, and a platform in order to be able to conduct security tokens offerings. DBS posted a description of these offerings and their features, but they were deleted only minutes later.
Once launched, the DBS Digital Exchange will support five well-known cryptocurrencies such as Bitcoin, Ether, XRP, Ethereum Classic, and Bitcoin cash and certain fiat currencies like US dollar, Singapore dollar, japan yen, and the Hong Kong dollar.
The digital assets will be held by the DBS Bank and not by DBS Digital Exchange. This exchange will also permit corporations to issue security tokens.
Being a regulated company, DBS announced that there are perks to its upcoming crypto service such as institutional-grade security assurance. They went further on and said that robust measures will be taken to prevent fraudulent activities as well as maintaining full compliance with Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) regulations.
HA DBS spokesperson, however, said that the platform is not fully ready and they’re working on it.
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