May 14, 2021
DBS Private Bank has launched a bank-backed trust to manage bitcoin for clients, the first such product in Asia.
DBS Private Bank has launched the first bank-backed cryptocurrency trust in Asia, which will allow private banking clients to invest in and manage bitcoin, according to a
Per the report, the trust services are built on DBS Digital Exchange and it would be offering cryptocurrency services to private banking clients for asset management, including for ether, bitcoin cash and XRP in addition to bitcoin. DBS Exchange was launched in December to offer fully integrated cryptocurrency services.
The news is another noteworthy indicator that demand for bitcoin is growing significantly.
DBS Private Bank Launches Crypto Investing and Custody Solutions
Last Updated: 14 May 2021
DBS Private Bank has launched a new crypto trust solution. The move comes amid high demand for digital assets from the bank’s high net worth clients.
The new service will provide its clients will a comprehensive service that encompasses investment and custody solutions in what the bank describes as a safe, secure and structured offering.
DBS Private Bank is one of the largest wealth managers in the Asian region. The bank reported an impressive record for its first quarter of 2021 in its trade volumes, with the numbers increasing by almost 10 times.
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