The largest bank in Southeast Asia, DBS, plans to launch a crypto platform for retail investors by the end of this year.
The Singapore bank, which opened an institutional cryptocurrency trading platform in early 2021, plans to expand its crypto asset trading offerings to retail investors by the end of the year.
The bank's chief executive outlined the immediate expansion plans for the DBS digital exchange during the earnings call:
We are beginning work to expand the exchange beyond its current base of accredited investors. We have a lot of work to do with regulators and their requirements, but by the end of the year we should have something in place.
DBS has not yet announced further details about the platform for retail investors.
Launched last year, the institutional platform has already carried out $819 million in transactions.
Subscribe to ForkNews on Telegram to stay up to date with news from the world of cryptocurrencies
You May Also Like
The world's first investment bank on blockchain
Currently, several large companies are working together to create the world's first blockchain investment bank in Malaysia, with a separate division for processing cryptocurrency payments. This event is the next step in the evolution of the industry.
Morgan Stanley appointed head of digital assets department
A large American banking holding company, Morgan Stanley, hired an employee with 12 years of experience at Credit Suisse to head the bank’s “digital asset market.”
