There’s a big announcement for BTC, ETH, XRP, and BCH. These come freshly baked from the blast furnaces of one of the largest private and commercial banks in Singapore.
Bank DBS announced that it plans to launch a crypto trading platform that will support all of the above cryptocurrencies
This is definitely good news for Bitcoin, Ethereum, Ripple, and Bitcoin Cash. The cryptos in question are to be paired with the Singapore dollar, US dollar, Hong Kong dollar and Japanese yen.
The bank initially published a press release about the introduction, but quickly withdrew it. Representatives now say the project will start as soon as it gets regulatory approval.
The bank also announced that it would also allow companies to issue security tokens. The DBS plans to keep the crypto assets in custody. However, it is not yet clear whether customers will be able to move their BTC, ETH, XRP and BCH to private wallets.
Three Arrows Capital Su Zhu says the move will immediately make the bank the easiest way to buy crypto in Singapore
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