DBS, one of the largest banks in Singapore, has announced it intends to launch a platform for crypto trading.
According to Piyush Gupta, CEO of DBS Bank, the new service will focus on retail traders and will launch towards the end of 2022.
Before the appearance of such an option, it is necessary to work out all the details and minimize the risks of fraud and manipulation. The head of the financial giant has said:
“There is a lot of work to be done to ensure transparency and combat fraud. By the end of the year, we should have something.”
Singapore is included in the list of regions with the most attractive conditions for the development of crypto-related business.
Local regulators have previously repeatedly stated that it is possible to ensure the transparency of the cryptosphere through clear and comfortable regulation.
The CEO of DBS Bank has noted the crypto trading platform will be as convenient as possible for retail users. They will be able to buy and sell digital assets in real time.