Singapore’s largest financial holding DBS is completing the development of a platform that will allow clients to trade cryptocurrencies.
Presenting the financial report for the last quarter of 2021, Piyush Gupta, CEO of DBS bank, said that the platform should be launched by the end of the year. The developers still have a lot to do, but the bank’s management does not lose hope, the CEO said:
“We are trying to make sure that not only accredited investors get access to the platform. We have a lot of work to do related to combating fraud, money laundering and so on. But by the end of the year, everything should work out.
Already now, accredited investors can buy cryptocurrency using DBS. To do this, they need to personally contact a bank representative and make an application. During the first half of the year, DBS hopes to bring this functionality online. It is not yet known whether the bank’s customers will be able to withdraw cryptocurrency to third-party wallets.
Last fall, DBS reported that the Digital Exchange platform was in high demand from corporate investors, accredited individuals and family investment firms.
Source: Bits
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