DBS Private Bank Launches Asia’s First Bank-Backed Crypto Trust Service
3 hours ago by Kofi Ansah · 3 min read
Photo: Depositphotos
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Digital assets currently hosted on the Singapore-based bank’s digital asset exchange are Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and XRP.
DBS Private Bank has unveiled Asia’s first trust services for cryptocurrencies backed by a bank. The Singapore-based bank stated on Friday that, its private banking sector has begun offering trust services for crypto, helping wealthy clients include digital assets in their wealth succession plans. Alongside the option of investing in digital assets, DBS Private Bank’s crypto Trust service also offers clients the ability to store and manage up to four of such assets via the bank’s licensed trust company DBS Trustee, according to a press release on Friday. Digital assets currently hosted on the Singapore-based bank’s digital asset exchange are Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and XRP. The fiat trading pairs on the bank’s exchange are the Singapore dollar, US dollar, Hong Kong dollar, and Japanese yen.