Home
News
- Independent crypto trading can be accessed through DBS digibank.
- Almost 100,00 investors fulfill the criteria and are allowed to access the services.
- DBS also revealed that the trading volume on its digital asset exchange winged up.
On Friday, a Singaporean multinational banking and financial services corporation, DBS, announced that it has launched an independent crypto trading through DBS digibank. In the announcement, it further added:
Eligible candidates will now be able to trade cryptocurrencies on DBS Digital Exchange (Ddex) by using DBS digibank with their freedom.
The DBS digital asset exchange existing backs the trading of four cryptocurrencies namely bitcoin, bitcoin cash, ether, and XRP. Earlier, crypto trading on the plate=form was restricted to corporate and institutional investors, family offices, and self-owned wealth overseer customers.
Elaboration of the announcement
In the announcement, the bank also elaborated that:
For initiation, a calculated 100,000 investors in Singapore fulfill this criterion and are permitted to afford the services proposed by DBS’ digital assets environment.
Sim S. Lim, an officer in the bank’s Consumer Banking and Wealth Management, commented: “widening access to Ddex is still one more move in our attempt to supply mature investors seeking to set their foot in cryptocurrencies with a smooth and safe way to perform so.”
In the last month, DBS revealed that the trading volume on its digital asset exchange winged up. “Investors who trust in the long-term anticipation of digital assets are moving towards believed and managed exchanges to afford the digital asset market,” the bank explained. The bank also newly set its foot into the metaverse by collaborating with the Sandbox.
The chief executive officer of DBS Bank Group, Piyush Gupta revealed in March that he does not believe that cryptocurrency will become note that “it may be an alternative to gold and its worth.”
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
