DBS Bank Limited of Singapore (‘DBS') announced the
launch a digital exchange on 10 December
2020.1
According to DBS's announcement, its digital exchange will
facilitate trading of four fiat currencies, namely the Singapore
Dollar, United States Dollar, Hong Kong Dollar and Japanese Yen and
four cryptocurrencies namely Bitcoin, Bitcoin Cash, Ether and XRP
and enable spot exchanges between the aforementioned fiat
currencies and cryptocurrencies.
The digital exchange will also provide a platform for issuance
and trading of digital tokens backed by financial assets, such as
shares in unlisted companies, bonds and private equity funds, as
well as custody services (including cryptographic keys) for digital
assets.
