DBS Bank, a Singaporean multinational banking and financial services giant, has joined the Hedera Governing Council, the group focused on the Hedera network development. The corporation said in an announcement it will also run network node to explore more blockchain opportunities.
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Jimmy Ng, Group Chief Information Officer at DBS, says the partnership is aimed at bringing "tangible benefits" to DBS' stakeholders.
The news, however, made no impact on HBAR, Hedera's native token. As of press time, HBAR is down by almost 10% and is trading at the $0.36 mark. The token's capitalization has decreased down to $5.5 billion.
The announcement comes after DBS Digital Exchange, the corporation's cryptocurrency exchange, said it plans to double its client base up to 1,000 by end-Decembe. The exchange also wants to grow by 20-30% annually for the next three years as cryptocurrency adoption speeds up.
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