DBS is a major bank in Asia.
its headquarter in Singapore and have branches in Thailand, India, Mainland China, Hong Kong, Japan, Australia, Indonesia, Malaysia, Vietnam, United Arab Emirates and the United Kingdom.
Their major focus is private banking.
DBS bank recently announced that they will launch their own cryptocurrency exchange in their body.
Security token offerings will be available in their cryptocurrency exchange.
They also mention Bitcoin Cash BCH ( and 3 other cryptocurrency Bitcoin, Etherium, and Ripple ) can exchange against major fiat currencies such as U.S Dollar USD, Japanese Yen JPY, Singaporean Dollar SGD, and Hong Kong Dollar HKD.
Starting from next week, you can buy or sell Bitcoin Cash, BTC, XRP, and ETH in DBS digital exchange.
I will also try to withdraw Bitcoin Cash from read.cash to DBS digital exchange after they will launch it.
You can read the full official announcement in the below link
This is a milestone for the cryptocurrency sector, it is the first time an exchange set up by a traditional bank. Good to see that conventional finance opens doors for its customers to cryptocurrency.
Cover image created by me in Canva.
