DBS rolls out the first bank-backed crypto trust solution in Asia
May 14, 2021
Reportedly, the solution will let investors custodize, manage, and invest in up to four cryptos.
Per DBS’ Group Head, this solution seeks to serve the expanding population of crypto adopters.
DBS, a Singapore-based private bank has launched the first-ever bank-backed crypto trust in Asia. The bank reached this milestone by leveraging its fully-owned subsidiary, DBS Trustee. Through this launch, the bank seeks to offer its private banking clients an opportunity to invest, custodize, and manage up to four digital currencies in an organized manner.
According to the report, this solution will run on the DBS Digital Exchange (DDEX), which went live in December last year. By leveraging DDEX, the bank’s institutional investors and accredited investors will get to work with an all-inclusive platform for crypto trading, tokenization, and custody.