2021-02-08 14:08:22
Institutional interest in Cryptocurrencies and digital assets has increased exponentially in recent months, and in a sign of growing mainstream adoption of this nascent asset class, traditional banks are now joining in on the action.
Singapore-based DBS — the largest bank in Southeast Asia — has become one of the first traditional banks in the region to launch its own digital exchange. Following an announcement last month, the bank’s crypto trading services is now live, DBS has confirmed to Forkast.News.
The exchange leverages blockchain technology to provide tokenisation, trading and a custody ecosystem for digital assets. The move follows DBS’ in-principle approval as a recognized market operator by the country’s central bank and regulator, the Monetary Authority of Singapore (MAS).
The platform facilitates spot trading between four fiat currencies (SGD, USD, HKD and JPY) and four Cryptocurrencies — Bitcoin, Ethereum, Bitcoin Cash and Ripple.
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#cryptocurrency
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