Singapore’s largest bank DBS Bank plans to open by the end of 2022 a platform for trading digital assets aimed at retail investors. The announcement was made by its CEO Piyush Gupta at a conference with analysts, CoinDesk reports.<\/p>\n
The top executive said that in implementing the initiative DBS Bank expects ‘a lot of work’ in the areas of anti-fraud measures and regulatory compliance. Details were not provided.<\/p>\n
In early 2021 the institution launched a Bitcoin exchange for institutions. Forklog reported<\/a> on similar plans in October 2020. The platform’s volume for the previous year amounted to about $819 million, with $595.5 million in the fourth quarter.<\/p>\n In the first half of 2022 the bank will focus on moving the service online for existing clients. Currently they must submit trading orders by voice.<\/p>\n In August 2021, DBS Bank reported<\/a> that the Monetary Authority of Singapore had granted in-principle approval to provide crypto-asset services to asset managers and companies.<\/p>\n In May the bank listed<\/a> on its digital assets platform security tokens<\/a> for SGD 15 million ($11.3 million).<\/p>\n Subscribe to ForkLog news on Telegram: ForkLog Feed<\/a> \u2014 all the news, ForkLog<\/a> \u2014 the most important news, infographics and opinions <\/p>\n","protected":false},"excerpt":{"rendered":" Singapore’s largest bank DBS Bank plans to open by the end of 2022 a platform for trading digital assets aimed at retail investors. The announcement was made by its CEO Piyush Gupta at an analysts’ conference, CoinDesk reports.<\/p>\n","protected":false},"author":1,"featured_media":57680,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1166,1572,946],"class_list":["post-57679","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-centralized-exchanges-cex","tag-dbs","tag-singapore"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/57679","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=57679"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/57679\/revisions"}],"predecessor-version":[{"id":57681,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/57679\/revisions\/57681"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/57680"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=57679"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=57679"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=57679"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}