Bank of Singapore introduces digital asset custody service
The retail and commercial bank made its way into the world of cryptocurrencies with its three new offerings
Singapore’s largest retail and commercial bank, DBS, introduced its new cryptocurrency custody service to the market, along with two other offerings.
According to various media, the financial institution also launched a trading service and a platform to offer security tokens on the market.
DBS’s upcoming cryptocurrency service, DBS Digital Exchange, will support five major cryptocurrencies, including Bitcoin (BTC), Ether (ETH), XRP, Bitcoin Cash (BCH), and Ethereum Classic (ETC).
DBS Digital Exchange will also allow small and medium-sized businesses, as well as large corporations, to issue security tokens.
Since the bank is regulated by the Monetary Authority of Singapore, the DBS stressed that such a service will offer different advantages as well as “the guarantee of institutional grade security.”
K. Tovar
Source: Cointelegraph
