DBS Bank will be the first in Asia to offer a cryptocurrency trust service providing storage and trading of BTC, BCH, ETH and XRP through its subsidiary DBS Trustee.
The company offers investment and storage of BTC, BCH, ETH and XRP through the DBS Digital Exchange, launched late last year. The move adds legitimacy to the region’s cryptocurrency market and provides large players with the opportunity to invest in digital assets they deem safe.
The bank also offers tokenization of securities and other assets and ensures the storage of digital assets with bank-grade security. DBS Private Bank Team Leader Joseph Poon said:
“In recent years, more and more customers have shown interest or have already invested in digital assets, and we expect this trend to intensify as cryptocurrencies become more popular.”
Recall that recently it became known that the American investment bank JPMorgan, Singapore bank DBS and investment firm Temasek are preparing to launch a blockchain platform for international payments and interbank transactions.
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