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Bank of Singapore Is Expected To Launch Its Crypto Exchange

28 October 2020 14:15, UTC
Denis Goncharenko
New institutions are coming to the crypto space almost every day. DBS, the largest bank in Southeast Asia, headquartered in Singapore, wants to provide institutional clients with the ability to trade and store cryptocurrencies.

According to current information, the DBS digital exchange will allow the trading of four crypto assets including Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH) and XRP. In addition, the new trading platform should enable direct trading of cryptocurrencies. Trading will be possible against the Singapore dollar (SGD), Hong Kong dollar (HKD), Japanese yen (JPY) and the US dollar (USD).

Over the past few months, the entire crypto space has benefited immensely from institutional investors entering the market. The bitcoin price is still above the $13,000 mark and there is no sign of a trend reversal yet.

Image courtesy of Trustnodes