The crypto adoption process has been growing. Singapore's largest bank DBS has decided to be a part of it.
On 27 October the bank published about the launch of its “DBS Digital Exchange”, which has probably been deleted afterwards. Anyway, there are a lot of screenshots distributed in the crypto platforms.According to a description of the platform DBS’ upcoming crypto service — the DBS Digital Exchange — will support five dominant cryptocurrencies including Bitcoin, Ether, XRP, Bitcoin Cash and Ethereum Classic. As per the cached version of the page, the exchange would manage a security token offering [STO] and will be presented in due program to help boost funds from accredited investors.
Supported fiat currencies include the United States dollar, the Singapore dollar, the Hong Kong dollar and the Japanese yen.
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The DBS Digital Exchange will allow small- and medium-sized businesses as well as large corporations to issue security tokens.As a company controlled by the Monetary Authority of Singapore, DBS mentioned that its upcoming crypto service will offer different benefits such as the assurance of institutional-grade security. The upcoming bank-backed exchange also aims to provide strong means to stop deceitful activities and maintain strict compliance with Anti-Money Laundering and Counter Terrorist Financing regulations, according to the document.