DBS Bank, Singapore's largest bank, announced at its financial results presentation on February 14 that it plans to launch a crypto asset (virtual currency) trading service for individual investors within this year. DBS Bank CEO Piyush Gupta answered questions from participants in the earnings announcement. "We are beginning to do some initial work to expand our services beyond our current customers, institutional investors."
DBS Bank's crypto asset trading service for institutional investors currently requires a call to a bank clerk to place a buy / sell order, but will be improved to make it easier for users to use by the end of this year.
DBS Bank established the Digital Stock Exchange in December 2020 with a 90% stake in the bank and a 10% stake in the Singapore Exchange. It also provides exchange services between four fiat currencies (SGD, USD, HKD, JPY) and four crypto assets: Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH) and XRP.