Yesterday Singapore’s largest bank DBS temporarily unveiled a web page revealing a planned digital asset exchange trading cryptocurrencies, with support for security token offerings in the near future. The page was removed but is available in an archive.
However, the plan is not for a retail offering but to provide institutional services. It explicitly states that only financial institutions and professional market makers will be considered as members. It also says individuals need to go via an institution such as DBS Private Bank. But in a slight contradiction and a sign that the page is a work in progress, it also states that family offices and accredited investors can email to apply for membership.
The web page reveals that the DBS Digital Exchange plans to support four cryptocurrencies, Bitcoin, Bitcoin Cash, Ether, and XRP, and four fiat currencies, USD, SGD, YEN, HKD.
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