Singapore’s DBS allows wealthy clients to trade in cryptocurrency
The service will provide access to DDEx, one of the world’s first digital exchanges backed by the bank
23.09.2022 - 12:55
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What’s new? Singapore’s largest bank, DBS Bank, has introduced a cryptocurrency trading service for its wealthy clients who are accredited investors. According to a statement, the new service will allow them to trade virtual assets at their convenience, as well as provide seamless access to DDEx, one of the world’s first digital exchanges backed by the bank.
What else does the press release say? Previously, cryptocurrency trading on DDEx was limited and available only to corporate and institutional investors, family offices and clients of DBS Private Bank and DBS Treasures Private Clients. The service is now also available to accredited investors in the DBS Treasures segment. About 100 000 such clients in Singapore will be able to access the services offered by the DBS digital asset ecosystem.
Earlier, DBS entered into a partnership with The Sandbox metaverse. As part of the collaboration, the bank will create its own interactive virtual world called BetterWorld. It will become an additional platform for the bank to disseminate information about important environmental, social, and governance issues and attract attention to communities and partners that are addressing them.
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