Singapore-based OCBC Bank is studying the possibility of launching a cryptocurrency exchange in response to client demand. This was stated by its CEO Helen Wong in an interview with Bloomberg.
“Work is underway at the bank. We are considering [the launch of the service],” she said.
The executive noted a priority in safeguarding client investments, in particular transaction security, given the anonymity of recent activity.
She emphasized a priority on safeguarding client investments, notably transaction security, given the anonymity of recent activity.
“It’s not about conservatism, but about responsibility. Banks have a fiduciary duty toward clients,” she explained.
As reported, the broker-dealer arm of DBS Bank has received approval from the Singapore financial regulator to provide cryptocurrency services to asset managers and companies. In May, DBS Bank issued digital promissory notes worth $11.3 million on its DBS Digital Exchange in the first STO.
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