Singapore's biggest bank DBS Entered in Crypto Space
DBS Bank that is one of the biggest banks in Singapore has finally made some positive towards cryptocurrency and this is something that we just can't ignore.
I read news about blockchain and cryptocurrency every day to keep myself updated and today I got a news article by CoinDesk about DBS Bank. As per the news article, DBS Bank Is Planning to Launch a Digital Asset Exchange. I did some more research about it and then I found a tweet for the same shared by @cz_binance who is the CEO of Binance exchange.
Singapore is always way ahead in acceptance of the latest technology and things and they already have bitcoin ATMs there. When I was in Singapore then I had visited a few ATMs and used to buy crypto using Singapore Dollar Fiat.
This is one of the ATM that is located in Tiang Bahru Plaza.
I like the positive approach by Singapore towards crypto and now the entry of DBS bank is great. DBS bank has their presence in other countries as well like India and Indonesia etc so when things will be better then it is going to help Indian users as well.
Although there is no official confirmation by DBS bank as of now hopefully it should be out soon.
DBS Digital Exchange is regulated by the Monetary Authority of Singapore, per the webpage. Its official launch date remains unknown. The Block has reached out to DBS for comments and will update this story should we hear back. Dubbed “DBS Digital Exchange,” the trading platform would allow users to trade in four crypto assets: BTC, BCH, ETH, and XRP.
I am excited to have more details about this update and official confirmation as well soon so that things can get more clarity and how it will add more value to crypto space. I believe that once the official announcement will be out then probably many other banks will follow the trend that can help the crypto to get more attention.
Sharing news articles below that you can go through to have more details about it-
Singapore's biggest bank DBS is launching a crypto exchange
DBS Bank Is Planning to Launch a Digital Asset Exchange
Thank you so much.
have a great day.
