2 years ago
DBS, the largest slope successful Southeast Asia, has unveiled its program to grow its crypto services successful Hong Kong. “We are readying to use for a licence successful Hong Kong truthful that the slope could merchantability integer assets to our Hong Kong customers,” said an enforcement of the bank.
DBS Bank to Apply for Digital Asset License successful Hong Kong
DBS Group Holdings has unveiled its program to grow its services successful Hong Kong. The Straits Times reported Monday that the slope plans to use for a licence to connection crypto trading services to Hong Kong customers. Headquartered and listed successful Singapore, DBS is the largest slope successful Southeast Asia with a beingness successful 18 markets.
Sebastian Paredes, CEO of DBS Bank (Hong Kong), said astatine a briefing connected Monday:
We are readying to use for a licence successful Hong Kong truthful that the slope could merchantability integer assets to our Hong Kong customers.
The enforcement stated that erstwhile the regulations astir crypto assets successful Hong Kong are wide and the slope “understands precisely the framework,” DBS volition beryllium among the lenders funny successful participating. He noted that portion DBS is alert of the risks associated with integer assets, the slope is supportive of Hong Kong’s caller argumentation shift.
Hong Kong is presently seeking to pull integer plus businesses. In January, Financial Secretary Paul Chan Mo-po reaffirmed the city’s committedness to go a crypto hub. Unlike China’s anti-crypto stance, the Hong Kong authorities is considering granting greater access for retail investors to commercialized successful cryptocurrencies and crypto exchange-traded funds (ETFs).
DBS launched a full-service bitcoin exchange successful Singapore for firm and organization investors successful precocious 2020. After seeing increased trading volume, the slope launched a crypto trust service, followed by its archetypal security token offering. DBS continued to expand its crypto concern citing “growing demand.”
The slope obtained a license from the Monetary Authority of Singapore (MAS) to supply crypto services successful October 2021 and subsequently launched a self-directed crypto trading service. Furthermore, DBS entered the metaverse successful September past year.
What bash you deliberation astir DBS Bank expanding its crypto services successful Hong Kong? Let america cognize successful the comments conception below.
Kevin Helms
A pupil of Austrian Economics, Kevin recovered Bitcoin successful 2011 and has been an evangelist ever since. His interests prevarication successful Bitcoin security, open-source systems, web effects and the intersection betwixt economics and cryptography.
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