DBS Bank's Wealth Clients Division has added Bitcoin, Ethereum, Bitcoin Cash, and XRP investment trusts to its product line.
The tool is available in US dollars, Japanese yen, Hong Kong, and Singapore national currencies. The bank said that this is the first proposal of this kind in Asia.
The initiative is being implemented through the licensed trust company DBS Trustee, which is 100% owned by the bank.
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“In recent years, more and more customers have shown interest or are already investing in digital assets. We look forward to strengthening this trend, ”said Joseph Poon, head of DBS Private Bank. Previously, the holding launched a digital asset trading platform DBS Digital Exchange.
In the second quarter of 2021, the exchange expects to hold the first STO on its site. It will also introduce custodian services and develop the Partior blockchain platform, which is being developed jointly with Temasek and JPMorgan.