Dubbed âDBS Digital Exchangeâ, the new cryptocurrency exchange will be available for institutional and elite retail investors. The gift link for this subscriber-only article has expired. They can read the article in full after signing up for a free account. The exchange presents a huge opportunity for DBS to grow its presence in a large market, he said. The digital exchange will use block chain technology to provide a platform ecosystem to raise funds through asset tokenisation and secondary trading of digital ⦠DBS chief Piyush Gupta said yesterday that the bank's size and capabilities allow it to build volume and liquidity, and scale the exchange in a way that is difficult for bespoke digital exchanges. ��#�� 0�7��E���eB}�A� Iҡ�n�6e�M��*0YAvDĥ�qF�9��0�TUD"-�*6��A!�r��o_��?�: ���a`````�8��'�����0ɳ�S%l ��|�H�8�@ �C(���0L@�Ʌ#��=�=&����D�'�O^�S�v�JI�J2*�H5А���#����ԬS���� Singaporeâs DBS bank to launch digital currency exchange featuring Bitcoin, Ether, XRP and Bitcoin cash DBS Digital Exchange will be the worldâs first cryptocurrency exchange backed by ⦠The blockchain-based DBS Digital Exchange will allow institutional and accredited investors to access an integrated tokenisation, trading and custody ecosystem for digital assets. Article content. /Length 83760 6 minute read. A DIGITAL currency exchange backed by Singapore's largest lender DBS is in the works, although the bank is still in the process of seeking regulatory approval. Name) TEOH CHIA-YIN Designation GROUP SECRETARY Description (Please provide a detailed description of the event in the box below) Thu, Dec 10, 2020 - 6:18 PM. In May, it joined local blockchain trade-finance network Contour, which digitalises global trade processes such as the creation, exchange, approval and issuance of letters of credit. The fact that there is a lot of private capital lends itself to the possibility of monetising and creating liquidity in it.". ����3�G!���vX2 O��sO�8*�����j�R.� �1 �d�,W�B�\R�K\u*P�6���r`~w^�S1܁���szX�a:��ũp��.�(U�zۼ&]�fi�˛i�t�LO��z~*�f���>�}����0���jZ�u�R��k1mH�1���F��rl�t��� �0����������&���@x��N_��[VH>G �p000� {�������xo)000000�?��X{�G�Y�,��;e��vՆ�I�B��I6[�c��e1�-�p��b��e�n��|�s�z��!N�]qpEQ�]�Ck9�N���r*ഹ�e������-6��6��o����9X�̹յ�a�v���������G|�``````��±�7�_`5v�A�)t�BŃ�E�LMQ�6��b��e3�lv`�(��e�n��|f)s�z��P7ݛ9�7�h�M��N��a��p�}�v ������V;~4�]����`���{���]-�!Z{���������P``````�8���a���/���� ��S����U�L����6���@'�nq�V�:Q�#��>ݛ�z8Z��b`�5�1/�)�����I���J=n������83���� .pu����18ص��� �l`��N��}ڍ��z�Co��� GB8�8���f��no�~ ��xr. No. The global daily trading value on the world's digital exchanges ranged from US$50 billion (S$66.8 billion) to US$100 billion last year. )s-�|9 �����Q�M =^7����������m� ����3ϝ�����8y�:sтp��~�, ����3�ݒg[��+�8s��6�����|�3Ϲ�������+~��}sf��ğ���fc���;g��Y��p�� �6��d�9w��O�հ�% �_�=�����:�~�)�9��gNo��b>pWn���;}I������x��^�y�ϝ ]ӟ�SJW��?A� � �ݴ~����IC�u^���� ��� �[j�P| Singapore bank DBS to launch digital exchange as demand for virtual currencies soar Published Thu, Dec 10 2020 7:24 AM EST Updated Thu, Dec 10 2020 7:31 AM EST It will leverage blockchain technology to enable fundraising through asset tokenisation and the trading of digital assets, including cryptocurrencies. 198402868E. 5 0 obj HONG KONG, Dec 10 (Reuters) - DBS Group Holdings DBSM.SI, Southeast Asia's biggest bank, is to set up an exchange for digital assets, ⦠Mr Gupta said: "Over the last few years, the private capital market has been growing exponentially and more companies would rather stay private than go public... A large chunk of funds is now being raised in Asia. Singapore's DBS bank will launch a digital exchange for digital assets to provide integrated tokenisation, trading and custody services for institutional investors and accredited investors. SINGAPORE - South-east Asia's largest bank DBS will launch a digital currency exchange that will allow investors to trade in cryptocurrencies and firms to ⦠DBS is planning to launch an exchange for trading bitcoin and other cryptocurrencies, the bank told CoinDesk. (Photo: REUTERS/Edgar Su/File Photo) read. Until we resolve the issues, subscribers need not log in to access ST Digital articles. %PDF-1.7 Indonesia, 10 Dec 2020 - DBS today announced that it will set up a digital exchange, enabling Institutional Investors and Accredited Investors to tap into a fully integrated tokenisation, trading and custody ecosystem for digital assets. (Identity) With no official launch date, the DBS Digital Exchange will deal only with financial institutions and professional market makers. (L to R) Loh Boon Chye, CEO of Singapore Exchange; and Piyush Gupta, CEO of DBS A version of this article appeared in the print edition of The Straits Times on December 11, 2020, with the headline 'DBS to launch digital exchange; crypto trading may start next week'. The Monetary Authority of Singapore has given in-principle approval to the new exchange to [â¦] 4 0 obj endobj Date &Time of Broadcast 10-Dec-2020 17:05:58 Status New Announcement Sub Title DBS TO LAUNCH FULL SERVICE DIGITAL EXCHANGE Announcement Reference SG201210OTHRHEHK Submitted By (Co./ Ind. /Length1 360416 December 10, 2020 The Singapore-based bank believes it is the first in the world to launch a fully-fledged exchange for digital assets, including tokenization, cryptocurrency exchange and custody. ... DBS Digital Exchange will offer ⦠]-t�h��8Q�s�z �W�{3��7#��Z�P�(�0YU�toF�F��a�fd�7�����f����lo��Y���RTլ�toF��Q��fRN�,����$� �\�����0�5�]qpE8�ތ�PM@U��x@����~< jE�U�QQ%�����r' �)a�⇍^�X���/������������pl��}�3�"؛9�RU͢�*������ಊN�"k�J�'�:QG,�}�鰽��K��nW�DD�g2��R �� T50h��i�rEUTUTUT+�QUU����ތx�Q�2za���p��Y2����������Z���L�*wK�"w�U�O���������\�_�U���^�G,�}�%"�p������kX�F�7sp/��ͨ����hЌF�� �����ƺ�fP�h�����iH��>j�����0��Ѣ��g C�ñ�ڳ�����{3S�Pٍ�eNA�����4U�44ŨT����D�����f�lY&�]qpo�>��؛1��fL���Y��~o�O�ao������� 8[000000�?����4���t ����(����ތAS ��s��:X�Ui�9����-���a.C���5ӽ���(to�`0Z�d6�MF�I���L&�n>S��`ďd4�Zm�w@���}��=�j���0|�����8G.000000�?����_{�G�A1|'���,���4H �hD݉ҌF ��Ř��{9Q}�鰽��W��nWܛ�����+���0��f,&X̀90��{o�hl2�`t�F�9��O}}o�O����w~���b���U ���71lo������B�kQ,ha%�L��"�M&��l��d���F����#��>���>�r10��R;ݮ8��BWe2}�+�!��M��v+`��$�?��"�Iv��s=~W�]�� Title: Microsoft Word - DBS Digital Exchange_media release_10dec_330pm_final_tosecretariat Author: yvonneleesw Created Date: 12/10/2020 4:24:43 PM The Singaporean banking giant DBS has finally confirmed reports circulating since October that it is set to launch a range of crypto-related operations â including a crypto exchange offering trading in bitcoin (BTC) and major altcoins.The news come just Last year, it also launched its first multi-tier financing facility on a logistics blockchain platform to help small and medium-sized enterprises in China get faster access to trade financing. 2020-10-27T11:15:05+00:00 2020-10-27T12:20:49+00:00. >> Kelly Ng kellyng@sph.com.sg@KellyNgBT. ]�����w�N?�����N�����Nߧ��}�Nߧ��}�Nߧ��}L�s:�]�әNg: 5.�n3��y����Ռ"+�$)2��a#W���6�,ɲ �r�@�D�I}���p%� ?dp�yU��� ���j�C��$J�I)�bR��@�G�x�&t�t' The crypto exchange is expected to start trading as early as next week, while the securities platform will be set up in the next few months. Yesterday Singaporeâs largest bank DBS temporarily unveiled a web page revealing a planned digital asset exchange trading cryptocurrencies, with support for security token offerings in the near future. Photo: Singapore (Bloomberg) Share this article. It will provide a regulated platform for the issuance and trading of digital tokens backed by financial assets such as shares in unlisted companies, bonds and private equity funds. Singaporeâs DBS Bank to launch B2B digital exchange, security token offerings. DBS said Singapore Exchange will take a 10% stake in the digital exchange, while the rest will be owned by the bank. 3.Tap on âSet up nowâ and follow the instructions to verify your email address before entering the email and SMS one-time password (OTP) sent to you. (Adobe) SGX will take a 10 per cent stake in the DBS Digital Exchange. Image: Deyoadutrys, CC BY-SA 4.0, via Wikimedia Commons, modified by Forkast.News. All rights reserved. The Tokenizer January 8, 2021 Singapore Exchange to take a stake in the DBS Digital Exchange DBS in Singapore announced in December that it will set up a digital exchange, enabling Institutional Investors and Accredited Investors to tap into a fully integrated tokenisation, trading and custody ecosystem for digital assets. We would like to show you a description here but the site wonât allow us. SPH Digital News / Copyright © 2021 Singapore Press Holdings Ltd. Co. Regn. DBS, the Singapore-based bank and financial services corporation, is building a digital ⦠A version of this article appeared in the print edition of The Straits Times on December 11, 2020, with the headline 'DBS to launch digital exchange; crypto trading may start next week'. Singaporeâs largest lender DBS is launching a digital currency exchange allowing both institutional and retail customers to trade cryptocurrencies against multiple fiats. The platform will facilitate trading between four fiat currencies â the Singapore dollar, US dollar, Hong Kong dollar and Japanese yen â and four established cryptocurrencies including Bitcoin, Ether, Bitcoin Cash [â¦] Singapore, 10 Dec 2020 - DBS today announced that it will set up a digital exchange, enabling Institutional Investors and Accredited Investors to tap into a fully integrated tokenisation, trading and custody ecosystem for digital assets. One of the largest banks, DBS has launched its own crypto-to-fiat exchange called âDBS Digital Exchangeâ. The bank has received in-principle approval from the Monetary Authority of Singapore for DBS Digital Exchange to operate organised markets for assets such as shares, bonds and private equity funds. Ms Choo Oi Yee, its chief commercial officer, said: "With increasing adoption globally, we expect to see more institutional players turning to digitised securities as their primary mode of issuing new equity and bonds, and more investors building portfolios that consist of diversified digitised investment products.". P��nM�Ư_�^��_�ﲂr�U���#��(+|���Y�@I����FXV� �+��T�k�v9,��� �"�"�� 2R1� Telegram. A retail investor will need to channel his assets to the exchange via members like DBS Vickers Securities (Singapore) Pte Ltd and DBS Private Bank. The bank updated its website showing the upcoming ⦠Earlier last week, Singaporeâs largest bank DBS, announced its latest earnings. SGX-backed digitised securities platform iSTOX welcomed DBS' entry into the digital assets space. The usual cryptocurrency exchange is open 24 hours a day, 365 days a year. At this point, the launch date remains unknown. x��} `T���w��������n6 9HI � �3"Q1.� ��� j���قZ��D1 T��֊�*�Zi�[�m����w�n (��������wf���ͼ�����;�y ����~����ߓ�@�1 �����c�L�9��t ���I�������Y$Q6v�I#�[�ǁ��k ��0yʘs�J N�Ϛyܔ��>���4��m �['M. DBS launches digital exchange; crypto trading to start in a week. January 26, 2021. According to DBS, the digital exchange, has a daily trading volume between S$30-S$40 ⦠<< 8 0 obj DBS CEO Piyush Gupta also revealed insights into its cryptocurrency digital exchange which was launched last year. Singaporeâs largest bank, DBS officially announced the launch of its cryptocurrency exchange which will become operational by the end of next week. SGX chief executive Loh Boon Chye (left) and DBS chief executive Piyush Gupta. DBS to launch digital exchange as demand for virtual currencies soar A logo of DBS is pictured outside an office in Singapore on Jan 5, 2016. DBS to Launch Fiat-to-Crypto Exchange. Finance Magnates Telegram Channel. Its digital custody services will hold cryptographic keys that control digital assets on behalf of clients. /Filter /FlateDecode The Singapore exchange will have a 10% stake in the DBSâs digital exchange. What makes DBS Digital Exchange different from others? It reported a 72 per cent increase in net profit for the three months ending March 2021. Out-Law News | 18 Dec 2020 | 1:20 am | 1 min. The Singapore Exchange will take a 10 per cent stake in the DBS Digital Exchange. However, the DBS Digital Exchange will be opened for business from 9 am to 4 pm on weekdays and closed on weekends, similar to stock exchanges. Institutional interest in cryptocurrencies and digital assets has increased exponentially in recent months, and in a sign of growing mainstream adoption of this nascent asset class, traditional banks are now joining in on the action. This article is now fully available for you, Please verify your e-mail to read this subscriber-only article in full. Join ST's Telegram channel here and get the latest breaking news delivered to you. endobj �6�����v�Np$��N��B�7R/x�_��H�:� _�_���H���4HCD�L�!͂p�+�"��!iD��B6����� ����_�@�A�b(DZ��B�A:-���^(�R�0�`���!P��ʑVA�j�t(��0�DZUH�C5�H��0ij������0F ��z�E:bH�@ұ:����x�O� &�h� 0�q:�c��N� H�� H?�����N�㑞�өЈ�d8i��5�a2�St: � =�&?�8�i:=���Bs�c�� �Ӑ���,hA:NCz������hM~sa:ҳ`&ҳa�stz.�Fz���|83�����`.����0�F� �A�P���\����{�ڐ^�^���H��bX�t�N���仰#�� �.Dz�N/���^?J������@�X K�^ː���H��K�^��k�2�?�˓��p��p%��t�3X�|~+�^��ހ�ϰ�Fz#\�Gn�k��?Az�No��Ho���~�|~�ӵ�s���z����w��x�;uz܄G���[�ރ�Op/ܖ|~����%��`-�����:���H�;���.�u�w'����pO�MxD���WH� H;�>���~�[�����[�A�� �|~���a#��Ў� �@�$�s:}6'� /��/�cHے��ou�����q�/�v�;� �����W����W�����5x�t�- }�C�^@�&���H_���7H��E�6�����;�2�]��_����'_�wu�^E����}x�:��H�>��H?�7�/�'�G���[H����� �F�����ҿ#�-�v!�'�%���"�B��`7�/�=�_��H�$_���C���GH���H��� �/@>E�t��t�^]���u������:�������u�?t��]��]���u��u��w]���;:�s]�����t�����?�u�g�N�L���:�3]��a:��t���[��E���u�.]���u�. Southeast Asiaâs biggest bank, DBS Group Holdings, is ready to launch an exchange for cryptocurrencies that will provide trading, custody, and tokenization services to institutional and accredited investors. This is not DBS' first foray into digital assets. DBS Bank Is Planning to Launch a Digital Asset Exchange. With the DBS Digital Exchange, DBS will leverage blockchain technology to provide an ecosystem for fund raising through asset tokenisation and secondary trading ⦠While announcing its latest earnings, DBS CEO Piyush Gupta also shared insights into its cryptocurrency digital exchange which was launched last year. DBS said Singapore Exchange will take a 10% stake in the digital exchange, while the rest will be owned by the bank. They did a soft launch, yet deleted the link within very few moments after launch as Twitter exploded with the development. (The Straits Times) â Southeast Asiaâs largest bank DBS will launch a digital currency exchange that will allow investors to trade in cryptocurrencies and firms to raise funds through asset tokenization. /Type /Stream �⛰F-�5_ûa�xܬ��]���mp)�.�i�,x|U�9h}ZF��Eu�7 �����1�� �I��v� yo�Ϸ����|,3b����I��ò���O`��3���w�]X We have been experiencing some problems with subscriber log-ins and apologise for the inconvenience caused. 2.Launch your digibank and tap on the Digital Token icon on the homepage. dbs to launch full service digital exchange 2020-12-10 17:05:00 General Announcement Approval to amalgamate the business of Lakshmi Vilas Bank Limited with DBS Bank India Limited The crypto exchange is expected to start as early as next week, while the securities platform will be set up in the next few months. But a log-in is still required for our PDFs. DBS on Thursday announced that it will set up a digital exchange, which includes a cryptocurrency trading platform that will launch from next week. October 28, 2020. by Ledger Insights. The platform will facilitate trading between four fiat currencies - the Singapore dollar, US dollar, Hong Kong ⦠�`````�3$vA?�p'��_��J�o�S�K`�p ���z��(� DBSâ digital exchange is believed to be the first of its kind announced by a local bank. HONG KONG â DBS Group Holdings, Southeast Asiaâs biggest bank, is to set up an exchange for digital assets, including cryptocurrencies, that will provide tokenisation, trading and custody services to institutional and accredited investors. Read 3 articles daily and stand to win ST rewards, including the ST News Tablet worth $398. Industry observers say that if approved, the DBS Digital Exchange could be one of the world's first crypto exchanges backed by a ⦠Dec 10, 2020 ⢠December 10, 2020 ⢠1 minute read ⢠Join the conversation. DBS on Thursday announced that it will set up a digital exchange, which includes a cryptocurrency trading platform that will launch from next week. You have reached your limit of subscriber-only articles this month. With the DBS Digital Exchange, DBS will leverage blockchain technology to provide an ecosystem for fund raising through asset tokenisation and secondary trading ⦠By registering, you agree to our T&C and Privacy Policy. South-east Asia's largest bank DBS will launch a digital currency exchange that will allow investors to trade in cryptocurrencies and firms to raise funds through asset tokenisation. Get unlimited access to all stories at $0.99/month for the first 3 months. All done! Share gift link below with your friends and family. The service will also enable spot exchanges between four fiat currencies - the Singapore dollar, US dollar, Hong Kong dollar and Japanese yen - and four established cryptocurrencies - bitcoin, ether, bitcoin cash and XRP. stream Signing up for a free account Share this article minute read ⢠Join the conversation will leverage technology... 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