On December
18 DBS bank launched a digital currency platform that allows traders to
exchange cryptocurrency and investors to fundraise through tokenization. The
move makes DBS the first traditional bank to launch such an exchange.
Firms and
accredited investors will be able to trade in four established cryptocurrencies:
Bitcoin, Ether, Bitcoin Cash and XRP. Four fiat currencies the Singapore, US and
Hong Kong dollars and the Japanese yen will be also available.
DBS said in a press release that the platform includes “fully integrated tokenization, trading and custody ecosystem for digital assets.” The platform aims to enable early-stage companies to trade digital currencies with other financial assets as collateral, providing more options for businesses to raise funds.