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DBS, the largest bank in Southeast Asia by assets, is planning to launch cryptocurrency trading services for retail clients this year.
Gupta replied:
What we will focus on in the first half, the first two quarters, of this year is to make the access to digital assets a lot more convenient.
He detailed: “Today, what happens is that you’ve got 24/7, but the customers still need to call and speak to bankers. So the first order is to make it all online, make it self-service, make it instant, and make sure the internal processes are robust to be able to support that.”
The DBS CEO continued:
Nevertheless, by the time we nail all of these things down, I think you are looking more like the end of the year before we can actually bring something to market.
DBS Bank launched a cryptocurrency exchange in December 2020. The bank then launched a trust service of cryptocurrencies in May last year, followed by the launch of its first security token offering.
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