The largest bank in Singapore, DBS Bank, intends to open a digital asset trading platform focused on individual investors by the end of 2022. This was stated by its CEO Piyush Gupta at a conference with analysts.
The top manager said that in the implementation of the DBS Bank initiative, “a huge work” in the field of anti-fraud and compliance with regulatory requirements.
In early 2021, the institution launched a bitcoin exchange for institutional. The platform's turnover for the past year amounted to about $819 million, for the fourth quarter - $595.5 million.
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In the first half of 2022, the bank will focus on moving the service online for existing customers. Currently, they are forced to submit trading orders "by voice".
As a reminder, in August 2021, DBS Bank announced an “in principle” approval by the Monetary Authority of Singapore to provide crypto-currency services to asset managers and companies.
In May, the bank placed S$15 million ($11.3 million) worth of security tokens on its digital asset platform.