Singapore bank DBS Group no longer considers Bitcoin a pyramid scheme

2020-12-11 20:50

A few months after the launch of DBS Digital Exchange, Singapore’s largest financial services provider has announced plans to launch a crypto trading platform. Investment holding Singapore Exchange has already shared that it will own 10% of the shares of the new trading platform.

According to the published document, DBS Group is going to work with digital assets in three main areas.

Security Token Offerings – A regulated platform for the issuance and trading of digital tokens backed by financial assets, such as shares in unlisted companies, bonds and private equity funds.Digital Currency Exchange – Cryptocurrency trading that will facilitate spot exchanges from fiat currencies to cryptocurrencies and vice versa. The DBS Digital Exchange will offer exchange services between four fiat currencies (SGD, USD, HKD, JPY), and four of the most established cryptocurrencies, namely Bitcoin, Ether, Bitcoin Cash and XRP.Digital Custody Services – An institution-grade digital custody solution to meet the increasing demand for secure custodial services tailored for digital assets under their prevailing regulatory standards. Leveraging on DBS’ experience in providing worldclass custody services for conventional assets, DBS’ digital custody services provides the custody of cryptographic keys that control digital assets on behalf of clients.

This company’s decision was explained by the CEO of DBS Group Piyush Gupta. He stated that due to Singapore’s status as a major financial hub, they are going to meet the demand for “digital asset adoption and cryptocurrency trading”.

The DBS Group and Singapore Exchange (SGX) will collaborate to provide liquidity for the future market, and to explore the potential and development of digital asset trading.

This news is especially interesting when you remember that just three years ago, CIO David Gledhill openly stated that his company is considering Bitcoin as another Ponzi scheme. He also criticized the technological shortcomings of bitcoin, mentioning the high cost and secrecy of transactions. However, it took several years for the company to completely rethink its approach to the cryptocurrency industry.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Singapore Dollar (SGD) на Currencies.ru

$ 130706.08 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $126259.81 - H: $131954
Капитализация $0 Rank 99999
Цена в час новости $ 24462.01 (434.32%)

singapore platform launch exchange trading dbs crypto

Источник: coinstelegram.com

singapore platform → Результатов: 126


BCoin.sg ICO

BCoin.sg is an established business headquartered in Singapore. Having already built an exchange platform with active users, we consider this the first step towards consumer empowerment. Leveraging on our resources and network of international partners, we are also developing an entire suite of complimentary services to enable inclusivity and a unified access to the tokenized economy to all market players, be it innovator or investor.

2018-9-26 23:33


Crypto Week In Review: $60m Hack, Institutional Investor Launches Fund, Binance to Singapore

Throughout the past seven days, this up and coming industry saw its fair share of cases of development and maturation, as institutions have continued to pile onto this market. 15 Global Institutions Launch kLmgo SA Blockchain Platform Per a previous NewsBTC report, 15 of the world’s foremost institutions have joined hands to create komgo SA, an.

2018-9-23 15:16


Фото:

The Daily: Binance Tests Fiat Exchange, Russians Mull Crypto Platforms

Binance, the leading cryptocurrency exchange, has announced it will start testing a fiat-to-crypto currency trading platform in Singapore and we’ve got the story in Sunday’s edition of The Daily. Also, two islands in Russia are competing to host the country’s first regulated exchange, and the ECB says Europe doesn’t need a central bank issued crypto.

2018-9-16 15:28


Crowd Genie to revolutionize the lending business

August 9, Singapore: Crowd Genie Financial Services Pte. Ltd., a company providing innovative lending products and services, licensed by the Monetary Authority of Singapore, has undertaken a strategic initiative aimed at design and delivery of a modern lending and asset exchange platform that is powered by the blockchain technology. The platform will elevate the lending/borrowing […]

2018-8-9 05:23


Olife aims to Utilise Blockchain 4.0 Technology to Revolutionise the Digital Commerce Industry

Singapore, 07 Aug 2018 – Olife, a Singapore-based unified digital commerce platform is set to disrupt the digital commerce landscape by enhancing its services through blockchain technology. Olife will be launching its own digital currency, the Olife (ticker: OLIFE) Token, to be used within the Olife ecosystem and traded on the cryptocurrency market.

2018-8-8 03:48


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru