Cryptohumb.co

bitcoin exchange DBS

Key Takeaways

  • DBS, one of the largest banks in Singapore, launched a digital asset exchange.
  • The exchange will only be available to financial institutions and professional market makers, which will act as intermediaries.
  • Additionally, DBS will offer custody and a security token platform.

A Singapore-based multinational bank with over $400 billion of assets, DBS announced an institutional-grade digital asset exchange, custody, and platform for security token offerings (STOs).

Billion Dollar Bank DBS Launches Crypto Exchange

At the time of writing, DBS has taken down the page with the announcement, which may be attributed to ongoing social media excitement.

According to the announcement, the new exchange is regulated by the Monetary Authority of Singapore (MAS). Only financial institutions and professional market makers like DBS Vickers Securities will be allowed to use the platform. They will act as intermediaries for individual clients.

The exchange has a 0.1% fee, but institutions can add additional fees for individuals.

Regarding the security token offerings, DBS claims that small and medium-sized enterprises, along with corporations, can potentially reach a wider investor audience through digital fundraising. 

Notably, only qualified investors will be approved to participate once the service is live.

DBS digital asset ecosystem
DBS digital asset ecosystem. Source: DBS

The initial crypto lineup includes Bitcoin, Bitcoin Cash, Ether, and XRP. Trading pairs are against fiat currencies, such as USD, SGD, and JPY.

Margin trading isn’t offered at this stage. However, institutions will need to pledge fiat or digital currencies to be able to trade. Trading limits will depend on the size of a pledge.

DBS highlighted that it offers a convenient fiat on-ramp, eliminating the need for stablecoins like USDT. It’s a sensible claim, considering that regulators worldwide are weighing central bank digital currencies (CBDCs) and pushing against stablecoins.

A downside of the bank-backed exchange is that it has a trading schedule and may be inconvenient for those who are used to 24/7 crypto trading.

Overall, the DBS announcement falls in line with the ongoing trend of crypto acceptance among institutions. With giants like PayPal integrating digital currencies into their services, the bull-run indeed appears to be in the first inning.

By admin

One thought on “Singapore’s Largest Commercial Bank Launches Bitcoin Exchange”
  1. Hi, Eric here with a quick thought about your website cryptohumb.co…

    I’m on the internet a lot and I look at a lot of business websites.

    Like yours, many of them have great content.

    But all too often, they come up short when it comes to engaging and connecting with anyone who visits.

    I get it – it’s hard. Studies show 7 out of 10 people who land on a site, abandon it in moments without leaving even a trace. You got the eyeball, but nothing else.

    Here’s a solution for you…

    Talk With Web Visitor is a software widget that’s works on your site, ready to capture any visitor’s Name, Email address and Phone Number. You’ll know immediately they’re interested and you can call them directly to talk with them literally while they’re still on the web looking at your site.

    CLICK HERE http://www.talkwithcustomer.com to try out a Live Demo with Talk With Web Visitor now to see exactly how it works.

    It could be huge for your business – and because you’ve got that phone number, with our new SMS Text With Lead feature, you can automatically start a text (SMS) conversation – immediately… and contacting someone in that 5 minute window is 100 times more powerful than reaching out 30 minutes or more later.

    Plus, with text messaging you can follow up later with new offers, content links, even just follow up notes to keep the conversation going.

    Everything I’ve just described is extremely simple to implement, cost-effective, and profitable.

    CLICK HERE http://www.talkwithcustomer.com to discover what Talk With Web Visitor can do for your business.

    You could be converting up to 100X more eyeballs into leads today!

    Eric
    PS: Talk With Web Visitor offers a FREE 14 days trial – and it even includes International Long Distance Calling.
    You have customers waiting to talk with you right now… don’t keep them waiting.
    CLICK HERE http://www.talkwithcustomer.com to try Talk With Web Visitor now.

    If you’d like to unsubscribe click here http://talkwithcustomer.com/unsubscribe.aspx?d=cryptohumb.co

Leave a Reply

Your email address will not be published. Required fields are marked *