Singapore’s largest bank DBS is planning to establish a crypto exchange platform called DBS Digital Exchange. The financial institution announced the plans for the new exchange division on the 10th of December. The announcement further revealed that Singapore’s largest derivatives and asset exchange SGX supports the DBS Digital Exchange. SGX possesses a nearly 10% stake in the new crypto exchange.
According to the announcement, accredited and institutional investors will have access to trade selected digital assets on the platform. Specifically, the investors will be able to trade Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH), and Ripple’s XRP.
The CEO of DBS Group, Piyush Gupta, said:
noted“There are significant opportunities to bring trust and efficiency in price discovery to the global digital assets space.“