Southeast Asia’s largest bank, DBS, has launched a self-managed cryptocurrency trading app. Additional clients are eligible to trade the bank’s digital asset exchange and cryptocurrencies, including Bitcoin and Ether.
DBS launched an autonomous crypto business
DBS, Southeast Asia’s largest bank, announced on Friday that it has “launched self-managed crypto trading through DBS DBBank.” Advertisement Details:-
Eligible customers can now trade cryptocurrencies at the convenience of DBS DigiBank through DBS Digital Exchange (Ddex).
DBS Digital Asset Exchange currently supports trading of four cryptocurrencies – Bitcoin, Bitcoin Cash, Ether and XRP. Previously, crypto trading was limited to corporate and institutional investors, family offices and private wealth management clients of the bank.
At Friday’s launch, DBS said:
To begin with, approximately 100,000 investors in Singapore meet this requirement and are eligible to access services provided by the DBS Digital Assets ecosystem.
The bank’s Executive Director of Consumer Banking and Wealth Management, Sim S. Lim, commented: “Expanding the reach of Didex is another step in our efforts to provide sophisticated investors with a seamless and secure way to dip their toes into cryptocurrencies. He said.
The volume of transactions on the DBS digital asset exchange rose in August. “Investors who believe in the long-term promise of digital assets are gravitating towards trusted and regulated platforms to access the digital asset market,” the bank said. The bank recently ventured into the Metaverse by partnering with The Sandbox.
DBS Bank Group CEO Piyush Gupta said in March that he did not think cryptocurrency would become money, but “could be an alternative to gold and its value.”
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