Traditional Finance Embrace Crypto: DBS bankDBS bank, a Singapore largest bank, is to offer Bitcoin and crypto services to 300,000 of its wealthiest Asian customers through their mobile banking app. DBS plans to expand its existing digital asset exchange to these larger clients in particular.
Piyush Gupta, DBS's CEO, stated that the crypto market downturn demonstrated that established and regulated financial institutions, rather than start-ups, should offer products like digital asset trading to retail investors.
In a public statement, he said, "On the one hand, we want to be a global crypto hub. On the other hand, we're also very worried about our domestic population getting burned with this speculative asset class."
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