DBS, Singapore’s largest retail and commercial banking organization, opened a cryptocurrency exchange and listed 4 cryptocurrencies.
DBS, Singapore’s largest retail and commercial bank, opened an exchange where cryptocurrency can be purchased with fiat money.
Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH) and XRP (XRP) were listed in the first place on the exchange. These cryptocurrencies can be traded in Hong Kong Dollars, Singapore Dollars, US Dollars and Japanese Yen on the platform called “DBS Digital Exchange”. In the statement made by DBS, it was stated that users can also buy and sell security tokens, which are asset-backed tokens.
DBS was founded in 1968 by the Singapore government. The bank, which is a subsidiary of the state-owned Temasek Holdings, which has assets of approximately 310 billion dollars, provides service with 29 thousand employees. DBS generated revenue of 10 billion 600 million USD in 2019.
Big companies’ interest in cryptocurrencies has increased recently. Last week, US payment giant PayPal announced its cryptocurrency trading service, which will start with the listing of Bitcoin, Ethereum, Bitcoin Cash and Litecoin. Square, which previously had a market value of about $ 80 billion, announced that it has purchased $ 50 million of Bitcoin.