What's the big news about DBS getting an approval in-principle | TokoToken (TKO) Announcement [Official]

What's the big news about DBS getting an approval in-principle from the MAS?
Following the grant of the first approval in-principle (AIP) by the MAS to Independent Reserve earlier in the month, DBS Vickers which is the securities investment arm of DBS Bank had on 12 August 2021 became the second cryptocurrency exchange in Singapore to receive an AIP from the MAS to provide trading services for digital payment tokens.

So, what's the significance of DBS Vickers' AIP?
Armed with its AIP, DBS Vickers will now be able to directly support asset managers and companies to trade in digital payment tokens through DBS Digital Exchange (DDEx) which is a members-only crypto trading platform for institutional and accredited investors.

The support of DBS Vickers will certainly come in handy for the more than 400 crypto traders on DDEx which has more than USD130 million in digital assets in its custodial services

Till next time, adios Tokonauts.