DBS Private Bank launches trust service for cryptocurrencies, following the increase in demand for digital assets
#DBS $Private #Bank launched its trust service for cryptocurrencies after the demand for digital assets increased .
DBS Group Holdings said on Friday (May 14th) that the offer will allow private banking customers to invest, store and manage these assets in a secure, secure and structured manner. This service builds on the DBS Digital Exchange launched in December and offers institutional and accredited investors a fully integrated tokenization, trading and custody ecosystem for digital assets.
The service will only be available for Bitcoin (BTC), #Ethereum (ETH), #Ripple (XRP) and #Bitcoin #Cash (BCH) hosted on the digital exchange .
Traditional financial firms are increasing their crypto offerings as digital assets mature and prices rise.
Joseph Poon, group head of DBS Private Bank, said:
"Our service allows customers to manage and retain these assets securely."
The firm said that as of the first quarter, DBS's digital exchange had $ 80 million in assets, and its transaction volume increased 10 times from $ 30 million to $ 40 million.