Singapore’s largest bank DBS launches crypto service with Bitcoin

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FRANKFURT (Schroders) – Climate change is moving up the political and social agenda. Decarbonization could therefore become the megatrend of the next decade. Many of the companies that seem best positioned for the transition to a low-carbon future are listed on stock exchanges outside the US.
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In recent months, the entire crypto space has benefited enormously from the market entry of institutional investors. Thus the Bitcoin Code course still holds itself over the 13,000 dollar mark and still no trend reversal seems to be in view.

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New institutions enter the crypto space almost daily. DBS, the largest bank in Southeast Asia with headquarters in Singapore, wants to enable institutional customers to trade and hold crypto-currencies.
DBS Digital Exchange: Trading for BTC, BCH, ETH and XRP

Another big player enters the stage of the crypto world. According to current information, the DBS Digital Exchange will allow trading with four crypto assets. These include Bitcon (BTC), Bitcoin Cash (BCH), Ethereum (ETH) and XRP. In addition, the new trading platform will enable direct Fiat crypto trading.

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Trading the crypto currencies will be possible against the Singapore dollar (SGD), Hong Kong dollar (HKD), Japanese yen (JPY) and US dollar (USD).
Security Token Offering (STO) for medium-sized companies

In addition, DBS wants to offer a platform for Security Token Offerings, which will help medium-sized companies in particular to raise funds. According to an official document available to BTC-ECHO, the DBS calls digital assets the future of the digital economy.

In the document, DBS is optimistic about the future of digital assets:

Through the DBS Digital Exchange, customers gain access to digital currencies. This will enable the enormous potential of private markets and digital currencies to be exploited with institutional standards.

DBS Digital Custody: institutional custody for digital assets

Unlike most of today’s digital exchanges, the DBS Digital Exchange platform has no digital assets. Instead, all digital assets should be held directly with DBS Bank.

This would ensure an institutional-grade custody solution specifically tailored to the custody of digital assets.

DBS is regulated by the Monetary Authority of Singapore and is therefore one of the first banks to offer institutional customers the ability to trade crypto-currencies.

What does this mean for the crypto market?

The development seems to indicate that crypto currencies will soon be mainstream in all regions of the world.

Just a week ago, the US payment giant PayPal announced that it will enable its more than 350 million users to trade crypto currencies.

Even though Bitcoin and the rest of the crypto-market is gaining in popularity with institutional organizations, this news has not yet reached the mainstream.
Bitcoin interest over time, last 5 years Google Trends

Google Trends shows that interest in digital gold is still at a relatively low level. It remains to be seen whether this trend will change in the coming weeks and months.