• About Us
  • Privacy Policy
  • Contact Us
Subscribe
Lascena
Advertisement
  • Home
  • Bitcoin
  • Cryptocurrency
    • Altcoin
    • Litecoin
    • Ethereum
  • Blockchain
  • Regulation
  • Market
  • Prices 2021LIVE
  • Videos
No Result
View All Result
  • Home
  • Bitcoin
  • Cryptocurrency
    • Altcoin
    • Litecoin
    • Ethereum
  • Blockchain
  • Regulation
  • Market
  • Prices 2021LIVE
  • Videos
No Result
View All Result
Lascena
No Result
View All Result

DBS Bank’s Digital Exchange to Begin Trading Crypto ‘Next Week’

December 10, 2020
in Market
Reading Time: 2min read
DBS Bank’s Digital Exchange to Begin Trading Crypto ‘Next Week’


DBS Bank of Singapore has officially announced the arrival of its digital assets exchange, with trading to start next week.

The DBS Digital Exchange is 10% owned by Singapore’s SGX stock exchange. It will also provide tokenization of securities and other assets, as well as bank-grade custody for digital assets.

The new exchange will facilitate spot exchanges from fiat currencies to cryptocurrencies and vice versa, said Piyush Gupta, DBS Group CEO on a media call, Wednesday. 

Four fiat currencies (SGD, USD, HKD, JPY) will be tradable against four of the most established cryptocurrencies covering 70-80% of the market, namely bitcoin, ether, bitcoin cash and XRP, Gupta added.

“We are ready to begin crypto trading as early as next week,” said Gupta. “Security token offerings may take a month or two to get started – but in summary we are ready to go.”

The security token offering part of the digital exchange will comprise 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.

“You can tokenize anything, you can tokenize a painting. But for now, we will be concentrating on financial assets.” Gupta said.

The third part is custody, which is said to be bank and institution grade. This will be air-gapped cold storage that leverages all the existing cyber security tech at the bank, according to the CEO.

Interestingly, Swiss digital exchange SDX said this week it would also be building a crypto exchange in Singapore with Japan’s SBI Holdings, slated for launch in 2022.

The DBS exchange will only be open to institutional clients and accredited investors, Gupta said.

“We are excited to apply our strengths in market infrastructure and risk management to this venture,” said Loh Boon Chye, CEO of SGX in a sattemement. “There are significant opportunities to bring trust and efficiency in price discovery to the global digital assets space. We look forward to working closely with DBS to advance Singapore’s standing as a multi-asset international financial centre.”



Source link

Facebook0
Twitter0
Linkedin0
Print0
E-mail0
Yahoo Mail0
GMail0
SMS0
Messenger0
Tags: BanksCryptoDBSDigitalExchangeTradingweek
Next Post
Airbnb Pre-IPO Derivatives Contract Listed on Crypto Exchange FTX

Airbnb Pre-IPO Derivatives Contract Listed on Crypto Exchange FTX

SpaceChain Awarded $585K Grant to Co-Develop Decentralized Satellite System

SpaceChain Awarded $585K Grant to Co-Develop Decentralized Satellite System

Please login to join discussion

Don't Miss

Ethereum breaks $1,700; Bitcoin sees $51,000 resistance
Bitcoin

Ethereum breaks $1,700; Bitcoin sees $51,000 resistance

by Lascena Cryptocurrency News Education
March 8, 2021
0

Bitcoin and Ethereum, the world’s biggest cryptocurrencies by market cap, saw a mixed day on Monday as price chopped...

Read more
Ripple boss appears on Axios calling SEC lawsuit “misguided”

Ripple boss appears on Axios calling SEC lawsuit “misguided”

March 8, 2021
BITCOIN $50,000 ETHEREUM $7500, PRICE PREDICTIONS! WTF? JP MORGAN SHOCKING U-TURN | CRYPTO NEWS 2020

BITCOIN $50,000 ETHEREUM $7500, PRICE PREDICTIONS! WTF? JP MORGAN SHOCKING U-TURN | CRYPTO NEWS 2020

March 8, 2021
Save the date: “The APOCALYPSE is coming…” Joe Rogan Talks Bitcoin & Crypto Altcoins Like Ripple XRP

Save the date: “The APOCALYPSE is coming…” Joe Rogan Talks Bitcoin & Crypto Altcoins Like Ripple XRP

March 8, 2021
Russia Just Released the Cryptocurrency Bulls…LEGALLY! | Bitcoin and Cryptocurrency News

Russia Just Released the Cryptocurrency Bulls…LEGALLY! | Bitcoin and Cryptocurrency News

March 8, 2021

Lascena Cryptocurrency News Education

We have all the latest updated and legitimate information related to Blockchain, Cryptocurrency, latest market rates & trends, prices, new regulations along with every other thing that somehow related to crypto or digital currency market. Our main idea is to provide the kind of news that is original and at the same time, it can prove to be beneficial for our audience.

© 2020 lascena.ca

  • About Us
  • Privacy Policy
  • Contact Us
No Result
View All Result
  • Home
  • Bitcoin
  • Cryptocurrency
    • Altcoin
    • Litecoin
    • Ethereum
  • Blockchain
  • Regulation
  • Market
  • Prices 2021
  • Videos

© 2020 lascena.ca

  • bitcoinBitcoin(BTC)$51,601.002.55%
  • ethereumEthereum(ETH)$1,786.726.76%
  • tetherTether(USDT)$1.00-0.14%
  • Binance CoinBinance Coin(BNB)$235.88-0.53%
  • cardanoCardano(ADA)$1.11-1.29%
  • PolkadotPolkadot(DOT)$34.34-0.14%
  • rippleXRP(XRP)$0.4724091.74%
  • UniswapUniswap(UNI)$33.050.92%
  • chainlinkChainlink(LINK)$30.9810.40%
  • litecoinLitecoin(LTC)$188.870.46%