DBS, the largest bank in Southeast Asia, launched a cryptocurrency exchange.

DBS, the largest bank in Southeast Asia, has officially launched several cryptographic services, including cryptocurrency exchanges. Officially, the bank released information on December 10, 2020 about the launch of a fully serviced digital exchange to provide an ecosystem of tokenization as well as trading and storage of digital assets. The bank's new service is aimed at institutional and accredited investors. DBS Digital Exchange uses blockchain technology to provide an ecosystem for fundraising through asset tokenization and secondary trading of digital assets including cryptocurrencies. The service also includes offers of security tokens called STO. The four fiat currencies supported are Singapore Dollar, US Dollar, Hong Kong Dollar and Japanese Yen, and the four most recognized cryptocurrencies at the moment are Bitcoin, Bitcoin Cash, Ethereum, and Xrp. DBS Bank provides custody services and digital asset security at an institutional level to meet the growing demand for this type of custody services, pointing out that its services ensure the secure storage of private cryptographic keys that control digital assets on behalf of the client.