B Bitcoin

Singapore Bank DBS Launched Crypto Exchange

19 December, 2020


According to several press reports, Singapore’s largest bank, DBS, lauched a digital currency exchange featuring four major cryptocurrencies namely Bitcoin, Ether, XRP and Bitcoin cash.


SCMP noted “the platform is open to institutional as well as elite retail investors” and “will allow the cryptocurrencies to be traded against four fiats: the Singapore dollar, the US dollar, the Hong Kong dollar and the Japanese yen and trading hours will be from 9am to 4pm, Monday to Friday.


Yesterday, the Nikkei highlighted that “hosted by Southeast Asia’s largest lender, DBS Group Holdings, the DBS Digital Exchange will also function as a regulated platform for the issuance and trading of digital tokens backed by financial assets, such as shares in unlisted companies, bonds and private equity funds.


Digital currencies have gained popularity this year as prices spkiked and more institutional investors decided to jump in the crypto universe.