DBS Bank, the largest bank in Singapore owned by the holding company DBS Group, has just announced the launch of a crypto exchange. It must be noted the announcement has been removed, however, it can still be accessed in the cached version. DBS Bank has reported:
"With DBS Digital Exchange, a bank-backed digital exchange, companies and investors can now leverage an integrated ecosystem of solutions to tap the vast potential of private markets and digital currencies."
The DBS Digital Exchange will be regulated by the Monetary Authority of Singapore, the country's central bank. The cryptos available for trading will reportedly be Bitcoin, Bitcoin Cash, Ethereum and XRP. These will be available in pairs with the Hong Kong dollar, the Singapore dollar, the US dollar and the Japanese yen.
In addition, the DBS Digital Exchange will allow security token offerings (STO), which will enable companies to attract capital through digital assets in a fully regulated manner.
Client assets will not be hold by the platform, but in the bank itself, which "is globally recognized for its custodial services." To do so, the bank has established the institutional-grade solution DBS Digital Custody.
It is worth mentioning that only financial institutions and professional market makers will enjoy direct access to the platform. Individual investors will be able to access it through approved intermediaries, including DBS divisions.
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