DBS Launches Asia’s First Bank-Backed Crypto Trust Service
(18 May 2021 – Singapore) DBS Private Bank has launched a trust solution for cryptocurrencies, the first such product in Asia.
This allows clients to invest, custodise and manage digital assets including Bitcoin, Ether, Bitcoin Cash and XRP in a safe, secure and structured manner.
This is the latest move into cryptocurrencies by DBS, which late last year launched a crypto exchange for institutional and other accredited investors named DBS Digital Exchange, offering investors a fully integrated tokenisation, trading and custody ecosystem for digital assets.
“In recent years, more clients have expressed interest or are already invested in digital assets, and we expect this trend to accelerate as cryptocurrencies turn more mainstream,” said DBS Private Bank group head Joseph Poon.
“Our trust structure allows clients to conveniently hold these assets, with a peace of mind that they will be safely managed and passed on to their intended beneficiaries.”
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