What is DBS Bank's digital exchange? It may involve cryptocurrency, STOs, and custody services.
According to information on the DBS Bank website on the morning of the 27th, DBS Digital Exchange is an exchange regulated by the Monetary Authority of Singapore and supported by DBS Bank. Although the current introduction page has been removed, a glimpse of possible plans can still be seen from the cached page.
Table of Contents
Four Cryptocurrency Trading Pairs
According to the cached webpage, DBS Digital Exchange offers trading services for fiat currencies and four digital currencies: BTC, BCH, ETH, and XRP.
STO
Given Singapore's relatively advanced regulation on Security Token Offerings (STOs), it is not surprising that DBS Bank has ventured into this business.
According to DBS, companies looking to raise funds compliantly from qualified investors can tokenize physical assets through them to create tradable digital tokens.
Digital Assets Custodied by DBS Bank
DBS Digital Exchange operates in a model that is vastly different from traditional exchanges. The exchange itself does not custody any digital assets; instead, they are custodied by DBS Bank. It is carried out by DBS Bank's institutional-grade custody arm, DBS Digital Custody.
Page Content Pending Confirmation
Currently, the related URLs have been taken down, and the official announcement is yet to be made, awaiting further confirmation. FAQs have already addressed many anticipated questions.
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