DBS Bank to launch Retail Crypto Trading in 2022
By MYBRANDBOOK
Piyush Gupta, CEO, DBS Bank has confirmed that the bank is planning to expand its crypto trending facility to its retail customers by the end of the year. Currently, the bank’s crypto trading service is limited only to institutional clients, who can only place crypto orders by calling the bank over the phone. The plan, according to Gupta, is to build an online digital assets exchange that will remain open 24/7.
Gupta said, “We are starting the initial work to expand it beyond the current investor base. Lots of work to do with suitability and anti-fraud… we should have something by the end of the year.”
DBS Bank’s decision to expand its crypto trading offering to cater to the retail market is unsurprising given last year’s spike in demand for crypto services. According to the CEO of DBS Digital Exchange, Lionel Lim, the exchange’s full-year crypto trading volume for 2021 jumped to $1.1 billion. $585.5 million of that was recorded in the fourth quarter alone.
As it has already acquired the Digital Payment Token License, DBS Bank is legally allowed to offer crypto trading services to retail customers, but it will not be allowed to market them. In January, the MAS issued guidelines to “discourage cryptocurrency trading by the general public,” forbidding providers from promoting crypto trading services through advertising in public areas or using third parties such as social media influencers.
BREAKING NEWS
TECHNO TRENDS
Microsoft to build a new data centre to support Thailand's tec
Microsoft has revealed intentions to construct a regional data centre as w...
SAP launches cloud services to help Indian scaleups innovate m
SAP at SAP unveils now "GROW with SAP for Scaleups," a new cloud service d...
Denodo and Sonata form alliance to unlock data-to-value creati
Denodo and Sonata Information Technology India Limited (SITL) have annou...
Google Play Store will now let users download two apps simulta
Google Play Store now lets users download two apps simultaneously. While a...
E-Magazine
TECHNOTAINMENT
ED attaches Raj Kundra, Shilpa Shetty’s Rs 97 crore worth as
The Enforcement Directorate (ED) has seized businessman Raj Kundra's pro
Salman Khan trolled for singing with B Praak at Anant Ambani's
To celebrate Mukesh Ambani's youngest son Anant Ambani’s 29th birthday
MOVERS & SHAKERS
DigiCert names Atri Chatterjee as CMO
DigiCert has announced the appointment of Atri Chatterjee as Chief Market
Amagi names its Chief Product Officer
Amagi announced the appointment of Richard Perkett as its Chief Product Of
OPEN YOUR EYES
INTERVIEWS
ESDS commits to presenting clients with the latest technology
According to a NASSCOM report, the Indian IT industry experienced its stron
Check Point takes pride in providing customers with the best c
Check Point has categorized its 80 products and technologies into four main
HOT PICK
COLORFUL rolls out an array of gaming laptops
COLORFUL launched its incredible series of COLORFUL EVOL P15 gaming laptop
Dell Technologies launches new AI-powered commercial PC portfo
Dell Technologies has launched the broadest portfolio of commercial AI lap
MAKE IN INDIA BRANDS
SAFE SECURITY SERVICES PVT. LTD.
VVDN TECHNOLOGIES
ZOHO CORPORATION PVT. LTD.
FRESHWORKS TECHNOLOGIES PVT. LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Technology Icons Of India 2023: Harsh Jain
Harsh Jain is an Indian Entrepreneur, the co-founder and CEO of the In...
Technology Icons Of India 2023: Dr. Sanjay Bahl
Sanjay Bahl is currently with the Indian Computer Emergency Response T...
Technology Icons Of India 2023: Deepinder Goyal
Deepinder Goyal is the Founder and CEO of Zomato. Deepinder, or Deepi,...
PARTNER SPEAKERS
PSU
EESL encouraging e-mobility adoption across India
Energy Efficiency Services Limited (EESL) is a Super Energy Service Co...
Leading company into fertilizers in the country
NFL is a dynamic organization committed to serve the farming community...
BBNL empowering rural India digitally
BBNL provide high speed digital connectivity to Rural India at afforda...
VIDEOS
Top 25 Brands
Value-Added Distribution
INTEGRA MICRO SYSTEMS PVT. LTD.
Integra is a leading provider of innovative hi-technology products an...
TECHNOBIND SOLUTIONS PVT. LTD.
TechnoBind’s business model is focused on identifying and partnering...
SONATA INFORMATION TECHNOLOGY LIMITED
Sonata Software Limited is a leading Modernization engineering company...
ITFORUM 2024
WIITF 2024
CMO of the Year
WOMEN LEADERSHIP
EMINENT CIO's OF INDIA
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
