• Markets
  • Crypto
  • Web3
  • Culture
  • Opinion
  • Politics
Subscribe
  • Login
  • Register
No Result
View All Result
  • Markets
  • Crypto
  • Web3
  • Culture
  • Opinion
  • Politics
No Result
View All Result
No Result
View All Result

Biggest Bank in Southeast Asia to Offer Bitcoin and Ethereum Trading

27/10/2020 09:57
No comments
DBS hq

DBS, the biggest bank in Southeast Asia and among the largest banks in Asia with total assets of S$518 billion is to offer bitcoin, ethereum, bitcoin cash and xrp trading as well as custody.

“Digital assets are poised to be the future of tomorrow’s digital economy. With DBS Digital Exchange, a bank-backed digital exchange, companies and investors can now leverage an integrated ecosystem of solutions to tap the vast potential of private markets and digital currencies,” they say, adding:

“Through DBS Digital Exchange, SMEs and large corporates alike can also tap on a Security Token platform to raise capital efficiently through the digitisation of their securities and assets, enabling issuers to reach a wider base of investors that might not traditionally have access to such tokens.”

Curiously the page appears to be down now, but we were able to find it on Google Cache where it explains the “DBS Digital Exchange is regulated by the Monetary Authority of Singapore, and is backed by the leading Asian financial services group, DBS Bank.”

They say numerous trading pairs will be offered, including BTC/SGD | BTC/HKD | BTC/USD | BTC/JPY, BCH/SGD | BCH/HKD | BCH/USD | BCH/JPY, ETH/SGD | ETH/HKD | ETH/USD | ETC/JPY, XRP/SGD | XRP/HKD | XRP/USD | XRP/JPY, and Security Tokens, which are asset-backed tokens.

They are to charge 10bps in fees but ordinary customers apparently can’t access this unless they go through third parties with the bank stating:

“DBS Digital Exchange only accepts financial institutions and professional market makers as members. Individual investors can only access the exchange via a member, for instance, DBS Vickers Securities (Singapore) Pte Ltd and DBS Private Bank.”

There’s trading hours here, 9am to 4pm, and DBS Bank is to handle custody with little detail provided on how exactly they are to do so.

Finally, you can “place cash and/or digital asset/s upfront to trade in the Digital Exchange,” meaning it sounds like you can deposit and withdraw bitcoin or eth like normal.

All that makes this the first mainstream bank to offer such services for cryptocurrencies which continue their march towards fully integrating with the financial sector as institutional investors become more and more interested.

Related Posts

Preston Von De Loon at Permissionless 2022

Ethereum Merging by September Bet Markets Say

Martin Shkreli on the left just released from prison, May 2022

Martin Shkreli Comes Out as a Crypto Bro

Crypto Goes Politics, But is it Failing?

Ethereum’s Ratio Falls 15%

Load More
  • Trending
  • Comments
  • Latest
One of Luna's bitcoin wallet, May 2022

Luna Confirms They Sold All Bitcoin

Central Bankers Discuss Bitcoin in El Salvador, May 2022

44 Central Banks to Attend Bitcoin Gathering in El Salvador

Three Months US Treasury Bonds Rate, May 2022

Falling Bonds Back USDc

The Court of Justice

Crypto Developers Don’t Own Duty of Care Court Rules

Preston Von De Loon at Permissionless 2022

Ethereum Merging by September Bet Markets Say

Martin Shkreli on the left just released from prison, May 2022

Martin Shkreli Comes Out as a Crypto Bro

Biden signing crypto executive order, March 2022

Crypto Goes Politics, But is it Failing?

Ethereum's ratio against bitcoin, May 2022

Ethereum’s Ratio Falls 15%

Comments

Latest News

  • Ethereum Merging by September Bet Markets Say
  • Martin Shkreli Comes Out as a Crypto Bro
  • Crypto Goes Politics, But is it Failing?

About Trustnodes

Terms of Service

Privacy Policy

Our Ethics and Values

Trustnodes Newsletter

Trustnodes © 2017-2022. All Rights Fully Reserved. For any Enquiries contact@trustnodes.com RSS Feed

No Result
View All Result
  • Login
  • Sign Up
  • Cart
  • Markets
  • Crypto
  • Web3
  • Culture
  • Opinion
  • Politics

Trustnodes © 2017-2022. All Rights Fully Reserved. For any Enquiries contact@trustnodes.com RSS Feed

Welcome Back!

Login to your account below

Authenticate with MetaMask Loading...

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?